Cap. 484 Art. 15The assumption of risks.

(1) Any and all risks can be assumed by a securitisation vehicle and securitised in accordance with this Act.

(2) The securitisation vehicle may assume risks by acquiring assets, guaranteeing or assuming obligations, entering into derivative contracts or by committing itself in any other way.

(3) Unless the parties expressly determine otherwise in writing, an assumption of risk and any hedging or derivative transaction or product entered into in the context of a securitisation transaction for whatever reason shall not be deemed to be a contract of insurance for all effects and purposes at law.