1. This Law is applicable to the securitisation transactions effected by the assignment, upon compensation, of money credits, present or future, which may be identified en bloc in the event of a plurality of credits, when the following requirements are met:

a) the assignee is a company contemplated under Article 3;

b) the amounts to be paid by the debtor or by the debtors assigned are segregated on exclusive basis by the assignee to satisfy the rights embodied in the instruments issued by the assignee, or by a different company, to finance the purchase of such credits as well as the costs of the transaction.

2. In this Law, the "Consolidated Text of Banking Laws" means the Legislative Decree No. 385 of 1st September 1993, as amended, providing for the consolidated text of banking and credit Laws.

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