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Asset Covered Securities (Amendment) Act 2007 (No. 13)Introductory TextAct Referred to1. Definition of "Principal Act".2. Amendment of section 3 of Principal Act.3. Amendment of section 4 of Principal Act.4. Amendment of section 5 of Principal Act.5. Amendment of section 6 of Principal Act.6. Amendment of section 11 of Principal Act.7. Amendment of section 12 of Principal Act.8. Amendment of section 13 of Principal Act.9. Amendment of section 14 of Principal Act.10. Amendment of section 15 of Principal Act.11. Amendment of section 16 of Principal Act.12. Amendment of section 17 of Principal Act.13. Amendment of section 18 of Principal Act.14. Amendment of section 21 of Principal Act.15. Amendment of section 22 of Principal Act.16. Amendment of section 25 of Principal Act.17. Amendment of section 27 of Principal Act.18. Amendment of section 28 of Principal Act.19. Amendment of section 30 of Principal Act.20. Amendment of section 32 of Principal Act.21. Amendment of section 33 of Principal Act.22. Amendment of section 34 of Principal Act.23. Amendment of section 35 of Principal Act.24. Amendment of section 36 of Principal Act.25. Amendment of section 38 of Principal Act.26. Lifting of certain restrictions on cover assets pool of a designated mortgage credit institution.27. Amendment of section 40 of Principal Act.28. Amendment of section 41 of Principal Act.29. Modifications to Chapter 1 of Part 4 of Principal Act in its application to securitised mortgage credit assets.30. Chapter 1A - issue of asset covered securities by designated commercial mortgage credit institutions.31. Amendment of section 42 of Principal Act.32. Amendment of section 43 of Principal Act.33. Amendment of section 45 of Principal Act.34. Amendment of section 46 of Principal Act.35. Amendment of section 47 of Principal Act.36. What can be included in the cover assets pool maintained by a designated public credit institution.37. Amendment of section 49 of Principal Act.38. Amendment of section 50 of Principal Act.39. Amendment of section 51 of Principal Act.40. Amendment of section 53 of Principal Act.41. Lifting of certain restrictions on cover assets pool of a designated public credit institution.42. Amendment of section 55 of Principal Act.43. Amendment of section 56 of Principal Act.44. Amendment of section 58 of Principal Act.45. Amendment of section 61 of Principal Act.46. Amendment of section 62 of Principal Act.47. Amendment of section 66 of Principal Act.48. Amendment of section 71 of Principal Act.49. Amendment of section 72 of Principal Act.50. Amendment of section 78 of Principal Act.51. Amendment of section 81 of Principal Act.52. Amendment of section 83 of Principal Act.53. Amendment of section 85 of Principal Act.54. Amendment of section 88 of Principal Act.55. Amendment of section 89 of Principal Act.56. Provisions applicable where a credit institution is more than one kind of designated credit institution.57. Amendment of section 91 of Principal Act.58. Principles and policies applicable to making of orders, etc., under Principal Act.59. Further amendments to Principal Act.60. Schedule 3 - further amendments to Principal Act.61. Short title, construction, collective citation and commencement.
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Version status: In force | Document consolidation status: No known changes
Version date: 31 August 2007 - onwards
Version 2 of 2

60. Schedule 3 - further amendments to Principal Act.

The Principal Act is amended by inserting the following after Schedule 2:

"Schedule 3 FURTHER AMENDMENTS TO THIS ACT

Section 107.

Part 1 Deletion of references to tier 2 asset

Item No.

Section affected

Amendment

1.

Section 3

(a) In subsection (1), in the definition of "tier 1 asset", substitute "assets." for "assets; and".

(b) In subsection (1), delete the definition of "tier 2 asset".

2.

Section 27

(a) In subsection (1), delete paragraph (e).

(b) In subsection (3), in the definition of "credit transaction asset", substitute "or substitution asset" for ", substitution asset or tier 2 asset".

3.

Section 31

(a) In subsection (3), delete "and tier 2 assets".

(b) In subsection (5), delete "or tier 2 assets".

4.

Section 41

In subsection (5), delete "tier 2 assets,".

5.

Section 42

(a) In subsection (1), delete paragraph (e).

(b) In subsection (3), in the definition of "credit transaction asset", substitute "or substitution asset" for ", substitution asset or tier 2 asset".

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