Regulation 10 Applications for admission to the register of regulated covered bonds

United Kingdom

(1)

The Authority may not entertain an application under F1regulation 8(b)(i) or (ii) in respect of a covered bond or programme of covered bonds unless it knows—

(a)

the identity of the owner of the relevant asset pool;

(b)

the assets intended to be included in that asset pool; and

(c)

the arrangements to be made under regulation 17.

(2)

The Authority may grant an application under regulation 8(b) if it is satisfied that—

(a)

the applicant is an issuer which is admitted to the register of issuers;

(b)

the applicant and the owner of the relevant asset pool will comply with the requirements imposed upon them by or under these Regulations; and

(c)

the applicant complies with any other requirements imposed by the Authority in relation to the application.

F2(3)

The Authority may only grant an application under regulation 8(b)(ii) if it is satisfied that the eligible property (other than liquid assets) in the asset pool all falls within one and only one of the classes specified in regulation 2(1A).

Annotations

Textual amendments

F1: Words in reg. 10(1) substituted (1.1.2013) by The Regulated Covered Bonds (Amendment) Regulations 2011 (S.I. 2011/2859), regs. 1, 2(6)(a)
F2: Reg. 10(3) inserted (1.1.2013) by The Regulated Covered Bonds (Amendment) Regulations 2011 (S.I. 2011/2859), regs. 1, 2(6)(b)