Sub-paragraph 1: Special provisions for securitisation funds

The securitisation mutual fund may issue negotiable debt securities and bonds or debt securities issued on the basis of foreign law. The fund rules specify the characteristics and terms of issue of the debt securities. The liabilities of a securitisation mutual fund comprise at all times a minimum number of two units. The minimum amount of a unit on issue is 150 euros or its equivalent in the monetary unit…

The payment of sums due in respect of units issued by the fund is subordinated to the payment of sums due of any kind to holders of debt securities issued by the fund or to persons with whom loans have been contracted or commitments resulting from contracts constituting forward financial instruments entered into by the fund.