Duties Act 1997 No 123
Current version for 1 December 2014 to date (accessed 28 January 2015 at 12:21)
Chapter 11Part 2Section 284

284   Asset-backed securities

(1)  Duty is not chargeable in respect of a transaction or instrument to the extent that it is, or effects, any of the following:
(a)  the issue or making of an asset-backed security,
(b)  the transfer or assignment of or other dealing with an asset-backed security,
(c)  the discharge, cancellation or termination of an asset-backed security,
(d)  an instrument that, in the Chief Commissioner’s opinion, was executed for the purpose of creating, issuing or marketing asset-backed securities,
(e)  a mortgage over the interest of a person in a pool of assets, being a mortgage relating to debt securities that are asset-backed securities issued by the person to secure the repayment of financial accommodation provided to the person,
(f)  a mortgage over a financial asset or pool of assets or part of a pool of assets in connection with creating, issuing, marketing or securing an asset-backed security,
(g)  a policy of insurance covering any or all assets in a pool of assets acquired or held for the purpose of issuing asset-backed securities, but only so far as the instrument relates to asset-backed securities.
Note. Asset-backed security and pool of assets are defined in the Dictionary.
(2)  In this section, mortgage includes a charge.
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