Asset Covered Securities (Amendment) Act 2007

Amendment of section 6 of Principal Act.

5.— Section 6 of the Principal Act is amended—

(a) in subsection (1), by inserting “(other than such assets that comprise any pool hedge collateral)” after “following assets”, and

(b) by inserting the following after subsection (3):

“(4) Property referred to in subsection (3)(a) shall be an exposure to an institution within the meaning of Article 4(6) of the Codified Banking Directive.”.