S.L. 123.128 Art. 7Accounting issues.

(1) Securitisation vehicles shall account separately for different securitisation contracts such that they may determine the chargeable income for each contract.

(2) Notwithstanding anything contained in the Income Tax Acts or in rules or regulations made thereunder, where a securitisation vehicle is constituted as a company an amount equivalent to the additional deduction available in terms of rule 4(2)(b) shall be allocated to the final tax account of the securitisation vehicle.