DUTIES ACT 2001 - SECT 289A Exemption—asset-backed security

DUTIES ACT 2001 - SECT 289A

289A Exemption—asset-backed security

Mortgage duty is not imposed on the following—

(a) a mortgage of an asset-backed security or release of mortgage of an asset-backed security;

(b) a mortgage of a financial asset or pool of financial assets or part of a pool of financial assets for creating, issuing, marketing or securing an asset-backed security—

(i) to a person entitled to an asset-backed security or a trustee or agent for a person entitled to an asset-backed security; or

(ii) by or to a person who issues, makes or endorses an asset-backed security; or

(iii) to a person who provides security, whether as guarantor, surety or otherwise, to a person entitled to an asset-backed security or a trustee or agent for a person entitled to an asset-backed security;

(c) a mortgage of an instrument—

(i) issued or made for creating, issuing, marketing or securing payments under an asset-backed security; and

(ii) that is of a class prescribed under a regulation.