Transitional Provisions and Schedules
RCB Sch 1
Record keeping requirements
- 06/03/2008
See Notes
- (1) The aim of the guidance in the following table is to give the reader a quick overall view of the relevant record keeping requirements in this sourcebook.
- (2) Regulation 17(2)(a) (general requirements on issuer in relation to the asset pool) and Regulation 24(1)(a)(i) (requirements on owner in relation to the asset pool) require a record to be kept of each asset in the asset pool.
- (3) It is not a complete statement of those requirements and should not be relied on as if it were.
- (4) There are no other record-keeping requirements in RCB.
- (5) Table
| Handbook reference | Subject of record | Contents of record | When record must be made | Retention period |
| n/a | n/a | n/a | n/a | n/a |
- 06/03/2008
RCB Sch 2
Notification requirements
- 06/03/2008
See Notes
(1) The aim of the guidance in the following table is to give the reader a quick overall view of the relevant notification and reporting requirements
(2) It is not a complete statement of those requirements and should not be relied on as if it were.
(3) Table
| Handbook reference | Matter to be notified | Contents of notification | Trigger event | Time allowed |
| RCB 3.2.1 D | Confirmation of compliance by issuer. | Senior manager to confirm compliance with Regulations 16 and 17 of the RCB Regulations. Use Form RCB 2 Ann 1D. | The earlier of a date which the issuer selects, or 12 months from the registration date, then annually after that. | One month after the relevant confirmation date. |
| RCB 3.3.1 D and RCB 3.3.3 D | Information relating to the asset pool | Information on various attributes of the asset pool. Use Form RCB 3 Ann 2D . | End of each quarter following registration date. | One month after the end of the relevant quarter. |
| RCB 3.2.10 D | Confirmation of compliance by owner | Owner to confirm compliance with Regulations 16 and 17 of the RCB Regulations Use Form RCB 2 Ann 1D. | (1) when the issuer goes into insolvency (2) the anniversary date of the date the issuer sent annual confirmations |
(1) Within one month of issuer's insolvency. (2) One month after the relevant confirmation date. |
| RCB 3.4.1 D | Covered bond issuance | Information on the covered bond issuance Use Form RCB 3 Ann 3D. |
Issuance of covered bond from a regulated covered bond | On or before date of issuance |
| RCB 3.5.2 D | Change of owner | At least: (1) name, address and contact details of proposed new owner. (2) proposed transfer date and reasons for transfer (3) explanation of how proposed new owner will comply with requirements in RCB Regulations and in RCB. (4) confirmation that existing owner and proposed new owner have obtained appropriate advice |
Proposal to change owner | At least 3 months before proposed date of transfer |
| RCB 3.5.4 D | Material changes being any change that may affect the ability of the issuer or the owner to continue to comply with the requirements made on them under the RCB Regulations and RCB | At least: (1) details of the proposed change including proposed date of change and the reasons for it (2) an assessment of the impact of the change on the ability of the issuer and owner to continue to comply with the requirements in RCB Regulations and in RCB. (3) confirmation that issuer has obtained appropriate advice |
Proposal to make material change | At least 3 months before proposed date of change |
| RCB 3.5.6 D | Capability of asset pool to meet bondholder claims | (1) fact that the asset pool is not capable or not likely to be capable of covering claims. (2) proposals to rectify the breach |
(1) and (2) As soon as Regulations 18(2) or 24(1)(c) of the RCB Regulations is triggered | (1) Immediately (2) upon notification of breach or as soon as practicable after that time. |
| RCB 3.5.7 D | (1) That the requirements in the RCB Regulations and RCB are, or are likely to be materially breached, or (2) of any other matter which the FSA should be made aware of. |
(1) fact of breach or likely breach (2) details of matter |
Material breach, or likely material breach. As soon as issuer or owner becomes aware of matter. | Immediately |
- 06/03/2008
RCB Sch 3
Fees and other requirement payments
- 06/03/2008
The provisions
relating to fees are set out in
RCB Chapter 5 and in RCB
3.6.1 R (administrative
fee)
- 06/03/2008
RCB Sch 4
Powers exercised
- 06/03/2008
RCB Sch 4.1
See Notes
- 1. The following powers and related provisions in the RCB Regulations have been exercised by the FSA to make the rules and directions in RCB:
- (1) Regulation 8 and 9 (Applications for Registration);
- (2) Regulation 18, 20, 24 and 25 (Notification requirements);
- (3) Regulation 36 (financial penalties policy statements)
- (4) Regulation 46, Schedule 1 paragraph 5 (Fees).
- 2. The following power in the RCB Regulations has been exercised by the FSA to give guidance in RCB:
- (1) Regulation 42 (Guidance)
- 3. The following power under the Act has been exercised by the FSA to make the rules in RCB:
- (1) Section 138 (General rule-making power).
- 06/03/2008
RCB Sch 5
Rights of action for damages
- 06/03/2008
See Notes
Not
applicable
- 06/03/2008
RCB Sch 6
Rules that can be waived
- 06/03/2008
See Notes
Not
applicable
- 06/03/2008