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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 6 March 2008 - onwards
Version 2 of 2

Regulation 3 Asset Pool

(1) Subject to paragraph (2), in these Regulations an "asset pool" comprises the following assets -

(a) sums derived from the issue of regulated covered bonds and lent to the owner in accordance with regulation 16;

(b) eligible property which is acquired by the owner using sums lent to it in accordance with regulation 22;

(c) eligible property transferred to the asset pool by the issuer or a connected person to enable the issuer or owner, as the case may be, to comply with -

(i) the requirements specified in regulation 17(2);

(ii) a direction of the Authority under regulation 30; or

(iii) an order of the court under regulation 33;