The Regulated Covered Bonds Regulations 2008

Sums derived from the issue of regulated covered bonds U.K.

[F1 22.— [F2 (1)]  The owner of the relevant asset pool must, so far as necessary for the purpose of complying with arrangements made pursuant to regulation 23 or 24(1)(a), use the sums lent to it by the issuer of a regulated covered bond to acquire eligible property.

[F3 (2) Any eligible property acquired for the asset pool of a single asset class bond under paragraph (1) must be eligible property of the same class as the eligible property included in the asset pool of the regulated covered bond when it was registered.]]

Textual Amendments

F1 Reg. 22 substituted (22.7.2008) by The Regulated Covered Bonds (Amendment) Regulations 2008 (S.I. 2008/1714), regs. 1, 2(4)

F2 Reg. 22(1): reg. 22 renumbered as reg. 22(1) (1.1.2013) by The Regulated Covered Bonds (Amendment) Regulations 2011 (S.I. 2011/2859), regs. 1, 2(12)(a)

F3 Reg. 22(2) inserted (1.1.2013) by The Regulated Covered Bonds (Amendment) Regulations 2011 (S.I. 2011/2859), regs. 1, 2(12)(b)