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special purpose vehicle

      1. (1) (in PR) (as defined in the PD Regulation) an issuer whose objects and purposes are primarily the issue of securities.34
      1. (2) (except in PR) a body corporate, explicitly established for the purpose of securitising assets, whose sole purpose (either generally or when acting in a particular capacity) is to carry out one or more of the following functions: 34
        1. (a) issuing designated investments, other than life policies;
        1. (b) redeeming or terminating or repurchasing (whether with a view to re-issue or to cancellation) an issue (in whole or part) of designated investments, other than life policies;
        1. (c) entering into transactions or terminating transactions involving designated investments in connection with the issue, redemption, termination or re-purchase of designated investments, other than life policies;510