Security Receipt - Definition - Law Dictionary Home Dictionary Definition security-receipt

Definition :

Security receipt, means a receipt or other security, issued by a securitisation company or reconstruc-tion company to any qualified institutional buyer pursuant to a scheme, evidencing the purchase or acquisition by the holder thereof, of an undivided right, title or interest in the financial asset involved in securitisation. [Securitisation and Reconstruc-tion of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1)(zg)]