Asset Covered Securities (Amendment) Act 2007

Amendment of section 42 of Principal Act.

31.— Section 42 of the Principal Act is amended—

(a) in subsection (1)—

(i) in paragraph (f), by inserting “and other activities permitted by this subsection” after “(e)”, and

(ii) in paragraph (g), by inserting “and dealing in and holding pool hedge collateral” after “(f)”,

(b) in subsection (2)(b), by substituting “public credit” for “asset”, and

(c) in subsection (3), in the definition of “credit transaction asset”, by substituting “any asset arising from the activities referred to in subsection (1)(c) or (f), public” for “a public”.