Regulation 6 Meaning of “asset-holding company”

For the purposes of these Regulations an “asset-holding company” means a company that meets conditions A and B.

Condition A is that the company’s business, apart from any incidental activities, consists in acquiring, holding and managing financial assets forming the whole or part of the security for a capital market arrangement entered into by a note-issuing company.

Condition B is that the company’s liabilities representing debtor relationships are owed wholly or mainly to a note-issuing company or intermediate borrowing company.