Cap. 484 Art. 24Applicability of thisAct.

This Act shall only apply to securitisations or securitisation transactions where:

(a) the value of the securitisation transaction or the value of the financial instruments issued by the securitisation vehicle exceeds such minimum value as may be stated in a notice issued by the competent authority from time to time, or

(b) a specific securitisation transaction has been otherwise approved in writing by the competent authority.