S.L. 386.16 Art. 27Application of the Securitisation Act. Cap. 484. Cap. 484. Cap. 484. Cap. 484. Cap. 484.

(1) Save as otherwise provided by these regulations, the provisions of the Securitisation Act and any rules or regulations issued thereunder shall apply to a securitisation cell company and to each of its cells: Provided that where any provisions of the Securitisation Act, or any rules or regulations made thereunder, are inconsistent with the provisions of these regulations, the provisions of these regulations shall prevail and the provisions of the Securitisation Act, or of any rules or regulations made thereunder shall, to the extent of the inconsistency, not apply to a securitisation cell company.

(2) For the purposes of this Part, any reference in the Securitisation Act to securitisation assets shall be deemed to be a reference to securitisation assets attributable to a particular cell of a securitisation cell company, and any rights and liabilities related thereto shall be construed accordingly.

(3) For the purposes of this Part, any reference in the Securitisation Act to securities shall be deemed to be a reference to securities linked to a particular cell of a securitisation cell company, and any rights and obligations related thereto shall be construed accordingly.

(4) Unless otherwise specifically determined in writing in the terms of issue of securities, the privilege granted under article 16 of the Securitisation Act shall only attach to securitisation assets attributable to the relevant financial instruments issued in respect of the relevant cell.