7. Amendment of section 43 of the principal enactment

Section 43 of the principal enactment is hereby amended by the insertion, immediately after the definition of the expression “Monetary Board”, of the following new definitions :—

“securitization” means the issuance of securities by a special purpose vehicle which are backed by any assets consisting of any or all the rights in a finance lease or any equipment forming the subject matter of a finance lease or of both, transferred or assigned by a lessor in favour of such special purpose vehicle ;

“special purpose vehicle” means a body corporate or unincorporate, including a trust, established solely for the purpose of securitisation and for activities connected therewith or incidental thereto ;”.