Entire Section

  • Asset-backed Securities

    • 37.13

      This section sets out additional requirements that apply if debt securities are asset-backed securities.

    • 37.14

      If the asset backed securities are backed by equity securities or depositary receipts:
      (a)    the equity securities or depositary receipts must represent minority interests and must not confer legal or management control of the issuer of the equity securities; and
      (b)    they must be listed on the Exchange or another stock exchange.

    • 37.15

      If asset backed securities are backed by options or conversion rights relating to equity securities then rule 37.18 applies to the securities resulting from the exercise of the option or conversion rights.

    • 37.16

      There must be a trustee or appropriate independent party to represent the interests of the holders of the asset-backed securities. It must have a right of access to information relating to the assets.