Cap. 484 Art. 7Securitisation vehicle separate and independent from originator. Cap. 386.

No proceedings taken in relation to the originator under the Companies Act, or any other law, including any dissolution and winding-up proceedings, any company recovery procedure, any company reconstruction and any proceedings affecting creditors’ rights generally shall have any effect on:

(a) the securitisation vehicle;

(b) any securitisation assets acquired or risks assumed by the securitisation vehicle, as well as any cashflow or other asset of the securitised vehicle;

(c) any payments due by the underlying debtors in connection with the securitised assets.