Article 85 - Special Funding Company

(1) A special funding company is a Company carrying on one or more of the activities listed below and no other activity, apart from any activity incidental to such activities—
(a) acquiring, holding and managing financial assets forming the whole or part of the security for a funding arrangement;
(b) acting as a guarantor in respect of loan relationships, derivative contracts, finance leases or other liabilities of other Companies where the whole, or substantially the whole, of the Company's rights in respect of the guarantee form the whole or part of the security for the funding arrangement;
(c) acquiring, holding and managing financial assets forming the whole or part of the security for a funding arrangement entered into by another special funding company;
(d) entering into and being a party to a creditor relationship with another special funding company;
(e) in relation to a Special Purpose Company, any of the activities listed in Article 9.1(a) to (d) of the Special Company Regulations;
(f) in relation to a Holding Company, any of the activities listed in Article 20.1(a) to (f) of the Special Company Regulations.
(2) A "funding arrangement" is any arrangement for the raising of funds, or the creation of any form of debt instrument.
Amended (as from 18th June 2014)