securitisation Companies
securitisation companies are to take one of the following
forms :
-
a public limited company,
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a partnership limited by shares,
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a private limited company or
-
a cooperative company organised like
a public limited company.
Art. 5. The securitisation company charter
can empower the board of managers to create one or several
compartments each corresponding to a specific part of its
assets.
securitisation
Funds
-
securitisation funds are made up of
one or several joint ownerships or by one or several assets
held in trust. The management rules of the Fund expressly
state whether the fund is subject to the joint ownership
system or to the trust and fiduciary system.
-
securitisation funds are not legal
entities. They are managed by a management company.
-
securitisation funds consisting of
one or several assets held in trust are subject to the
legislation on trusts and fiduciary contracts.
-
Provisions of the common Law concerning
joint possession do not apply to securitisation funds.
-
Funds work almost exactly like mutual
funds (OPCVM).
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