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Amendment of section 12 of Principal Act.
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7.— Section 12 of the Principal Act is amended—
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(a) by inserting the following after subsection (1):
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“(1A) A person shall not—
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(a) purport to issue commercial mortgage covered securities in accordance with this Act,
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(b) represent or advertise that the person is a designated commercial mortgage credit institution, or is authorised by this Act to carry on a business involving the issue of commercial mortgage covered securities, or
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(c) claim to have the benefits conferred on designated commercial mortgage credit institutions by or under this Act,
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unless the person is registered as a designated commercial credit institution in accordance with this Part.”,
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and
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(b) in subsection (3), by inserting “, (1A)” after “subsection (1)”.
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