traditional securitisation scheme

traditional securitisation scheme

means a scheme whereby a special-purpose institution-

a)	issues commercial paper to investors; and

b)	uses the proceeds of such issue primarily to obtain or invest in assets; and

c)	makes payments primarily-

i)	in respect of the commercial paper so issued; or

ii)	to an institution acting in a secondary role,

which payments are made from-

A)	the cash flows arising or proceeds derived from the assets transferred to such a special-purpose institution by an originator or a repackager;

B)	the cash flows arising or proceeds derived from assets in which the special-purpose institution invested; or

C)	facilities granted to the special-purpose institution by an institution in accordance with the provisions of this Schedule;