Regulation 4 Meaning of “securitisation company”
(1)
For the purposes of these Regulations a “securitisation company” means a company that meets conditions A and B.
(2)
Condition A is that the company is—
(a)
a note-issuing company (see regulation 5),
(b)
an asset-holding company (see regulation 6),
(c)
an intermediate borrowing company (see regulation 7),
(d)
a warehouse company (see regulation 8), or
(e)
a commercial paper funded company (see regulation 9).
(3)
Condition B is that the company has a retained profit (see regulation 10).