Power of designated mortgage credit institution to issue mortgage covered securities.
29.—(1) A designated mortgage credit institution may issue mortgage covered securities, but only in accordance with this Act.
(2) A designated mortgage credit institution that issues a mortgage covered security shall ensure that the relevant security document states—
(a) that the security is a mortgage covered security, and
(b) that the financial obligations of the institution under the security are secured on the cover assets that comprise a cover assets pool maintained by the institution in accordance with this Act.
