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(a) in subsection (1), by substituting “section 32(1), (4), (5), (7) or (15), a contractual undertaking referred to in section 32(16) or section 33(5) or (6)” for “section 32(1), (4), (5) or (7) or section 33(2), (3), (5) or (6)”, and
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“(2A) A designated mortgage credit institution shall, as soon as practicable after becoming aware that a cover asset comprised in its cover assets pool would, if the institution were to include that asset at that time in its pool, contravene section 35(8)(a) or 41A(1)(c)(iii), remove that cover asset from its cover assets pool and, where required by this Act, replace it in accordance with section 35. Until these steps have been taken, the institution may not issue any further mortgage covered securities.”.
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