Document ID: chunk:federal_register_of_legislation:C2011A00125:clause:1_9
Version: federal_register_of_legislation:C2011A00125
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 1531–2045

9  After subsection 11CA(2)
Insert:
 (2AA) However, APRA must not direct, or give a direction that would cause or require, a covered bond special purpose vehicle to:
 (a) deal, or not deal, with an asset to the extent that the asset secures covered bond liabilities of an ADI; or
 (b) make a payment, or not make a payment, in relation to a covered bond liability of an ADI.
Note: Covered bond special purpose vehicles hold assets that secure liabilities in relation to covered bonds: see Division 3A of Part II.