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Statutory Instruments

2008 No. 346

Financial services and markets

The Regulated Covered Bonds Regulations 2008

Made

13th February 2008

Laid before Parliament

14th February 2008

Coming into force

6th March 2008

Contents

Go to Preamble

  1. PART 1

    INTRODUCTION

    1. 1.Citation, commencement and interpretation

    2. 2.Eligible property

    3. 3.Asset Pool

    4. 4.Owner

    5. 5.Connected person

  2. PART 2

    THE AUTHORITY

    1. 6.Functions of the Authority

  3. PART 3

    REGISTRATION

    1. 7.Registers

    2. 8.Applications for registration

    3. 9.Applications for admission to the register of issuers

    4. 10.Applications for admission to the register of regulated covered bonds

    5. 11.Refusal of applications for registration

    6. 12.Applications: supplementary

    7. 13.Decision on the application

    8. 14.Admission to the registers

  4. PART 4

    ISSUERS

    1. 15.Acting without registration

    2. 16.Sums derived from the issue of regulated covered bonds

    3. 17.General requirements

    4. 18.Notification requirements

    5. 19.Change of issuer

    6. 20.Material changes to the regulated covered bond

  5. PART 5

    OWNERS

    1. 21.Prohibition

    2. 22.Sums derived from the issue of regulated covered bonds

    3. 23.Requirements relating to the asset pool

    4. 25.Change of owner

    5. 26.Transfer of title

  6. PART 6

    PRIORITY OF PAYMENT

    1. 27.Priority in a winding up

    2. 28.Realisation of a charge

    3. 29.Expenses

  7. PART 7

    ENFORCEMENT

    1. 30.Authority’s power to give directions

    2. 31.Removal from the register

    3. 32.Directions and revocation: procedure

    4. 33.Powers of the court

    5. 34.Financial penalties

    6. 38.Offence of misleading the Authority

  8. PART 8

    THE TRIBUNAL

    1. 39.Functions of the Tribunal

    2. 40.Hearings and appeals

  9. PART 9

    MISCELLANEOUS

    1. 41.Notification of the Commission

    2. 42.Guidance

    3. 43.Disclosure of information

    4. 44.Warning notices and decision notices

    5. 45.Authority’s exemption from liability in damages

    6. 46.Modifications of primary and secondary legislation

  10. SCHEDULE

    MODIFICATIONS TO PRIMARY AND SECONDARY LEGISLATION

Go to Explanatory Note

The Treasury are a government department designated for the purposes of section 2(2) of the European Communities Act 1972(1) in relation to—

(a) credit and financial institutions and the taking of deposits or other repayable funds from the public(2); and

(b) measures relating to securities and rights in securities(3).

The Treasury, in exercise of the powers conferred by section 2(2) of that Act, make the following Regulations:

(1)

1972 c.68; section 2(2) was amended by the Legislative and Regulatory Reform Act 2006 (c. 51). Back [1]

(2)

S.I. 2001/3495. Back [2]

(3)

S.I. 2000/3057. Back [3]

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