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  4. S.I. No. 123/2012 - Asset Covered Securities Act 2001 (Section 31(1)) Regulations 2012.

S.I. No. 123/2012 - Asset Covered Securities Act 2001 (Section 31(1)) Regulations 2012.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 17th April, 2012.

In exercise of the powers conferred on the Central Bank of Ireland by section 91 (1) of the Asset Covered Securities Act 2001 (the “Act”) in respect of section 31(1) of the Act, the Central Bank of Ireland hereby makes the following regulations:

1. These Regulations may be cited as the Asset Covered Securities Act 2001 (Section 31(1)) Regulations 2012.

2. These Regulations apply in relation to designated mortgage credit institutions.

3. For the purposes of Section 31(1) of the Act, the prescribed percentage shall be 100 per cent.

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Signed for and on behalf of theCENTRAL BANK OF IRELAND,

12 April 2012.

MR MATTHEW ELDERFIELD,

Deputy Governor Central Bank of Ireland.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These regulations prescribe a new prescribed percentage for the purposes of section 31(1) of the Act.