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3. In regulation 1 (interpretation)(1), in paragraph (5)—
(a)in the definition of “money market fund”, for paragraph (a), substitute—
“(a)in accordance with Directive 2009/65/EC(2) of the European Parliament and of the Council of 13 July 2009 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities, is an undertaking for collective investment in transferable securities subject to that Directive; and”;
(b)omit the definition of “multilateral development bank”; and
(c)after the definition of “secure tenant” insert—
““securitisation transaction” means a disposal for consideration by a local authority of all or part of its interest in specified revenues, where disposal includes both sale and assignment;”.
The definitions of “multilateral development bank” and “money market fund” were inserted by S.I. 2004/534.
OJ No L 302, 17.11.2009, p32, amended by 2010/78/EU (OJ No L 331, 15.12.2010, p120) and 2011/61/EU (OJ No L 174, 1.7.2011, p1).
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