The Securitisation Companies (Application of Section 83(1) of the Finance Act 2005: Accounting Standards) Regulations 2007

Interpretation

4.  For the purposes of these Regulations—

(a) “party” to a capital market arrangement or a related transaction includes a party to an agreement which—

(i) forms part of the arrangement,

(ii) provides for the raising of finance as part of the arrangement, or

(iii) is necessary for the purposes of implementing the arrangement;

(b) one or more transactions are to be regarded as related transactions, in the case of any capital market arrangement, if it would be reasonable to assume, from either or both of—

(i) the likely effect of the transactions, and

(ii) the circumstances in which the transactions are entered into or effected,

that none of the transactions would have been entered into or effected independently of the arrangement;

(c) transactions are not prevented from being related transactions, in the case of any capital market arrangement, just because the transactions—

(i) are not between the same parties, or

(ii) are not between the parties to the capital market arrangement.