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Regulation 9 Meaning of “commercial paper funded company”

Original text. Later amendments are not shown.

For the purposes of these Regulations a “commercial paper funded company” means—

(a)

a company that was an asset-holding company but whose obligations under debtor relationships to a note-issuing company or intermediate borrowing company—

(i)

have been transferred to, or

(ii)

have been replaced by obligations under debtor relationships to,

one or more companies carrying on a business of banking, or

(b)

a company that was an intermediate borrowing company but whose obligations under debtor relationships to a note-issuing company—

(i)

have been transferred to, or

(ii)

have been replaced by obligations under debtor relationships to,

one or more companies carrying on a business of banking.