251AMortgage-backed securities

251A Mortgage-backed securities (1) No duty is chargeable under this Act in respect of a mortgage over the interest of a person in a pool of mortgages relating to debt securities that are mortgage-backed securities issued by the person to secure the repayment of financial accommodation provided to the person. (2) No duty is chargeable under this Act in respect of a mortgage of a mortgage or pool of mortgages or part of a pool of mortgages in connection with creating, issuing, marketing or securing a mortgage-backed security. (3) No duty is chargeable under this Act in respect of— (a) the issue or making of a mortgage-backed security; or (b) the transfer or assignment of or other dealing with a mortgage-backed security; or (c) the discharge, cancellation or termination of a mortgage-backed security. (4) No duty is chargeable under this Act in respect of a mortgage of a mortgage or pool of mortgages or part of a pool of mortgages for the purpose of creating, issuing, marketing or securing a mortgage-backed security— (a) to a person entitled to a mortgage-backed security or a trustee or agent for such a person; or (b) by or to a person who issues, makes or endorses a mortgage-backed security; or (c) to a person who provides security (whether as a guarantor, surety or otherwise) to a person entitled to a mortgage‑backed security or a trustee or agent for such a person— if the mortgage is executed on or after 1 July 2001. S. 251B inserted by No. 46/2001 s. 20.