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Chapter CFM72420

Document Cited in Related
Vincent
Published date16 April 2016
Record NumberCFM72420

The asset-holding company: holdings through partnerships

Some securitisations are structured through partnerships. The asset-holding company holds an interest in a partnership and this partnership interest (the entitlement to a share of partnership profits and losses and of the partnership assets) forms the security for the capital market arrangement. The company will be capable of being a securitisation company only if

  • the assets and business of the partnership are confined to those which would be acceptable under the securitisation company regulations, and
  • the company has no assets or business apart from the holding of its partnership interest and (where applicable) any other activities that are permitted for a securitisation company.

A similar approach will be adopted in relation to companies which hold membership interests in limited liability partnerships (LLPs). (See PM131400 for...

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