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Section-2(z) - Definition of ‘Securitization Trusts’ as per SARFAESI Act.

Securitisation is defined in Section 2(z) of the SARFAESI Act as under:

“Securitisation” means acquisition of financial assets by any securitisation company or reconstruction company from any originator, whether by raising of funds by such securitisation company or reconstruction company from qualified institutional buyers by issue of security receipts representing undivided interest in such financial assets or otherwise.”

As per the sub-section, the securitisation is the process of acquisition of financial assets (and not secured assets) by the securitisation company from the ‘originator’ by raising funds from the qualified institutional buyer (QIB) by issuing ‘security receipts’, which represents the undivided interest in such financial assets or otherwise.

CONTENT : Assessment of Trust

Related Topics.....Assessment of TRUST

 




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