Securitisation (Proceeds of Certain Mortgages) Act, 1995
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Designated bodies. |
4.—(1) For the purposes of any transfer, sale or assignment under section 14 of the Housing (Miscellaneous Provisions) Act, 1992 , by virtue of section 3 such transfer, sale or assignment shall only be made— | |
(a) to such body as may be designated by the Minister from time to time under this section for that purpose, and | ||
(b) for a consideration payable into the Exchequer from that body. | ||
(2) For the purpose of designating a body under subsection (1) the Minister may, from time to time, form or cause to be formed a limited company under the Companies Acts, 1963 to 1990. | ||
(3) The Minister shall have all the powers as are necessary to manage or cause to be managed a body designated under subsection (1). |