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Amendment of section 81 of Principal Act.
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51.— Section 81 of the Principal Act is amended by inserting the following after subsection (3):
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“(4) Subject to section 27(6), in this Part any reference to ‘ cover assets ’ or a ‘ cover assets pool ’ includes—
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(a) in the case of mortgage credit assets, public credit assets and substitution assets which constitute cover assets or are comprised in the cover assets pool, any security within the meaning of section 58, guarantee, indemnity and insurance held by the designated credit institution in respect of such assets,
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(b) in the case of cover assets hedge contracts, any security within the meaning of section 58, guarantee, indemnity and insurance held by the designated credit institution for, or pool hedge collateral provided to the institution under, such contracts.
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(5) Any reference in this Part to a ‘cover assets hedge contract’ includes any rights, obligations and title of the designated credit institution to, in or arising from pool hedge collateral or security within the meaning of section 58 provided to the institution under or for that contract.”.
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