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Version status: In force | Document consolidation status: No known changes
Version date: 31 August 2007 - onwards
Version 2 of 2

19. Amendment of section 30 of Principal Act.

Section 30 of the Principal Act is amended -

(a) in subsection (2)(b), by inserting "(including those relating to pool hedge collateral)" after "into",

(b) by substituting the following for subsections (3) and (4):

"(3) If a contract of a kind referred to in subsection (1) relates only to -

(a) mortgage covered securities issued by a designated mortgage credit institution,

(b) mortgage credit assets or substitution assets, or both, that are comprised in the cover assets pool maintained by a designated mortgage credit institution, or

(c) mortgage covered securities issued by a designated mortgage credit institution and mortgage credit assets or substitution assets, or both, that are comprised in the cover assets pool maintained by a designated mortgage credit institution,

and the institution and each other party to the contract have agreed that the contract is to be included in the cover assets pool as a cover asset, the institution shall ensure that the contract complies with the requirements of subsections (4) and (5).

(4) A contract of the kind referred to in subsection (3) may relate only to -

(a) mortgage covered securities issued by the institution,