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Amendment of section 40 of Principal Act.
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27.— Section 40 of the Principal Act is amended—
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(a) in subsection (1)(c), by substituting “mortgage credit assets and substitution assets comprised in the cover assets pool that relates” for “cover assets pools that relate”, and
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(b) in subsection (2)—
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(i) in paragraph (c), by substituting “mortgage credit assets are non-performing as at that date, and if they are” for “any persons who owe money under mortgage credit assets have defaulted in making payments in respect of those assets when due and payable, and if they have”,
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(ii) in paragraph (d), by inserting “so as to render them non-performing for the purposes of this Act” after “(£787.56)”, and
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(iii) in paragraph (h), by inserting “and not on residential property” after “property”.
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