SECURITISATION LAWS

UNCITRAL has prepared a draft of model law on assignment of international receivables which will be placed for final approval in a meeting in early 2000. When approved and adopted in the general assembly of the United Nations, the draft will be open for adoption by member countries. Click here to access full text of UNCITRAL draft.

Full text of the Trust law no. 24.441 of 1995 (In Spanish): Click here.

Australia:

Funds Management and Securitisation for Banks: http://www.apra.gov.au/banks/prudential/PS%20C2.PDF

The Australian Prudential Regulation Authority has proposed an amendment of the existing prudential guidelines by Press Release dated 9th May. The text of the revised proposals is here:
http://www.apra.gov.au/mediareleases/ps_funds_management_securitisation.pdf

The revised guidelines are expected to be finalised in Sept., 2000

Full Text of ORDINANCE No 2493/98: click here.

Full Text of Securitization law in Ecuador, in Spanish: click here.

France:

Full Text of Decree no. 89-158 of 9 March 1989 and extracts from law No.88-1201 of 23 December 1988 , in French: click here.

Hong Kong:

Full text of regulatory guidelines of Hong Kong Monetary Authority: click here

Indonesia:

Full text of Bapebam regulations on securitisation (PDF file): click here and here

Full text of Legge 30 aprile 1999, n. 130 (in Italian): click here

Text of the Government's Official release explaining (English) the features of the law: click here

Latvia:

Text of the Mortgage Bonds Law of 1998 : click here

Malaysia:

Full text of Malaysian Securities Commission's ABS guidelines April 2001 click here
Text of the Stamp duty exemption notification: click here

Draft securitisation rules dated 29th June, 1999: click here

Peru:

Link to Peru laws (in Spanish): click here

Philippines:

Text of Philippines CIRCULAR NO. 185 of 1998 : click here

Portugal:

Text of securitization law in Portugal (in Portugese): click here

Text of the regulatory guidelines of the Monetary Authority of Singapore dated 6th Sept., 2000 (complete text with 4 annexures): click here

Text of the Spanish law on securitisation transactions, in Spanish : click here
Full set of Spanish regulations on securitization, on CNMV website http://www.cnmv.es/delfos/Tendencias/titulinormas.htm

South Africa:

Text of the proposed regulations under the Banks Act: click he
Text of the South African law on securitisation transactions: click here

Thailand:

Text of the Thai royal decree on SPV law for securitisation transactions: click here

A new page on Revised article 9 of Uniform Commercial Code: click here
Text of rule 3a-7 of the Investment Company Act : click here
Narrative of Art. 9 on Secured Transactions : click here
Text of sec. 912 of Bankruptcy Reforms Act : click here