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PART 6
Management of Business Activities of Designated or Formerly Designated Credit Institutions in Certain Circumstances
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Interpretation (Part 6).
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71.—For the purposes of this Part, “asset covered securities business activities”, in relation to a designated or formerly designated credit institution, means the following activities—
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(a) issuing asset covered securities and otherwise financing or refinancing the activities referred to in paragraphs (b) to (d),
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(b) entering into cover assets hedge contracts,
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(c) dealing with mortgage credit assets, public credit assets, or appropriate substitution assets,
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(d) holding cover assets and maintaining the related cover assets pool,
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(e) the keeping of a register of mortgage covered securities business or public credit covered securities business,
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(f) administering and servicing those activities.
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