Part 4 of the Principal Act is amended by inserting the following after Chapter 1:

"Chapter 1A Issue of asset covered securities by designated commercial mortgage credit institutions.

Modifications to Chapter 1 and sections 4(2) to (5), 58, 61, 71 and 91 to enable them to apply to designated commercial mortgage credit institutions.

41B.

(1) The provisions of Chapter 1 and of sections 4(2) to (5), 58, 61, 71 and 91 shall apply to designated commercial mortgage credit institutions with the following modifications:

(a) references therein to 'asset covered securities' or 'mortgage covered securities' shall mean commercial mortgage covered securities;

(b) references therein to 'designated mortgage credit institutions' or, except in sections 28 and 38(7), to 'designated credit institutions' shall mean designated commercial mortgage credit institutions;

(c) references therein to 'mortgage credit assets' shall mean commercial mortgage credit assets;

(d) references therein to 'property assets' shall mean commercial property;

(e) except in section 38(7), references therein to a 'register of mortgage covered securities business' shall mean the register of commercial mortgage covered securities business;

(f) except in sections 32(13) (a) and 41A(6) (a), references therein to 'residential property' shall mean commercial property;