S.L. 386.16 Art. 20Contents of the memorandum and articles of a securitisation cell company. Cap. 484. Cap. 484.

Without prejudice to the provisions of article 3(2) of the

Securitisation Act, the memorandum or articles of association of a securitisation cell company shall state that:

(a) the securitisation cell company may create cells for the purpose of entering into securitisation transactions; and

(b) the directors may, subject to the provisions of the Securitisation Act and these regulations, carry out all acts relating to the creation, operation and termination of cells in a securitisation cell company.