Cap. 484 Art. 5Securitisation vehicle not required to obtain any licence.

Notwithstanding the provisions of any other law, and whatever the nature of the securitisation assets acquired or risks assumed by the securitisation vehicle, but without prejudice to article

5A, the securitisation vehicle shall not be required to obtain any licence, permit or authorisation other than as provided in this Act or in regulations made under the same Act and in particular, but without limitation to the generality of the foregoing, shall not require any licence under the Investment Services Act, the Banking

Act, the Financial Institutions Act and, save for what is provided in article 5A, the Insurance Business Act. The issuing and offering of financial instruments by a securitisation vehicle shall however still continue to be governed by the relevant provisions of the Companies Act and the Investment Services Act:

Provided that nothing contained in this article shall affect any of the provisions of the Income Tax Act and the Income Tax

Management Act.