Power of designated public credit institution to issue public credit covered securities.
44.—(1) A designated public credit institution may issue public credit covered securities, but only in accordance with this Act.
(2) A designated public credit institution that issues a public credit covered security shall ensure that the relevant security document states—
(a) that the security is a public credit 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.
