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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.


      1. 152
      1. (1) (in LR) person approved, under section 88 of the Act by the206 FCA,206 as a sponsor.45
      1. (2) (in BIPRU120), 180 and in MIPRU 4110 and in relation to a securitisation within the meaning of paragraph (2) of the definition of securitisation110,110 an undertaking other than an originator that establishes and manages an asset backed commercial paper programme or other securitisation scheme that purchases exposures from third party entities.45

    [Note: article 4(42) of the Banking Consolidation Directive (Definitions)]

      1. (3) (in IFPRU177) has the meaning in article 4(1)(14) of the UK CRR180.120