After the entry into force of the Securitisation Cell Companies Regulations, 2014 (L.N. 411 of 2014), the MFSA had processed the Notification of one Parent SCC namely, Primus Global Securities Investment SCC plc. This month, the MFSA issued an Acknowledgement in terms of Article 22 of the Securitisation Cell Company Regulations LN 411, 2014 in relation to Algebris Cell, a cell created by Primus Global Securities Investment SCC PLC.
A securitisation cell company (SCC) is a company incorporated for the sole object of entering into securitisation transactions. SCCs, which are separate legal persons, have the power to establish within itself one or more cells for the purpose of securitisation transactions. On the other hand, the creation of a cell does not create, in respect of that cell, a legal person separate from the securitisation cell company.
Cell Company Acknowledgement - Algebris CellThe content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.