Banking Act 1959
Part II
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Provisions relating to the carrying on of banking business
Division 3A
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Covered bonds
SECTION 27
Arrangements involving several ADIs
Aggregated issuing of covered bonds
(1)
Two or more ADIs may enter into an arrangement with another entity (the aggregating entity ) under which the aggregating entity issues bonds, notes or other debentures secured by covered bonds issued by each of the ADIs to the aggregating entity.
Other arrangements
(2)
The regulations may prescribe other arrangements that may be entered into by 2 or more ADIs for the purposes of issuing or dealing with covered bonds.
View history note
Hide history noteAggregated issuing of covered bonds
(1)
Two or more ADIs may enter into an arrangement with another entity (the aggregating entity ) under which the aggregating entity issues bonds, notes or other debentures secured by covered bonds issued by each of the ADIs to the aggregating entity.
Other arrangements
(2)
The regulations may prescribe other arrangements that may be entered into by 2 or more ADIs for the purposes of issuing or dealing with covered bonds.
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