A repurchase agreement shall be eligible to be entered into by an MMF provided that all of the following conditions are fulfilled:

(a) it is used on a temporary basis, for no more than seven working days, only for liquidity management purposes and not for investment purposes other than as referred to in point (c);

(b) the counterparty receiving assets transferred by the MMF as collateral under the repurchase agreement is prohibited from selling, investing, pledging or otherwise transferring those assets without the MMF's prior consent;

(c) the cash received by the MMF as part of the repurchase agreement is able to be:

(i) placed on deposits in accordance with point (f) of Article 50(1) of Directive 2009/65/EC; or

(ii) invested in assets referred to in Article 15(6), but shall not otherwise be invested in eligible assets as referred to in Article 9, transferred or otherwise reused;

(d) the cash received by the MMF as part of the repurchase agreement does not exceed 10% of its assets;

(e) the MMF has the right to terminate the agreement at any time upon giving prior notice of no more than two working days.