{
  "url": "https://openlegislation.uk/draft-taxation-of-securitisation-companies-regulations-2006/regulation-7",
  "json_url": "https://openlegislation.uk/draft-taxation-of-securitisation-companies-regulations-2006/regulation-7.json",
  "legislation": "ukdsi/2006/0110753275",
  "legislation_title": "The Taxation of Securitisation Companies Regulations 2006",
  "legislation_url": "https://openlegislation.uk/draft-taxation-of-securitisation-companies-regulations-2006",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": "Meaning of “intermediate borrowing company”",
  "text": "(1) For the purposes of these Regulations an “intermediate borrowing company” means a company that meets conditions A and B.\n(2) Condition A is that the company’s only business, apart from any incidental activities, is to enter into and be a party to creditor relationships with—\n(a) an asset-holding company,\n(b) a company that would be an asset-holding company if the assets forming the security for the capital market arrangement were financial assets,\n(c) a partnership that would be an asset-holding company if it were a company and the assets forming the security for the capital market arrangement were financial assets, or\n(d) another intermediate borrowing company.\n(3) Condition B is that the company’s liabilities representing debtor relationships are owed wholly or mainly to a note-issuing company or another intermediate borrowing company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2006/0110753275/regulation/7",
    "retrieved_at": "2026-10-30T15:20:40.450658+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}