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Originator:
The Co-operative Bank plc
Assets:
Residential Mortgages
Arrangers:
Merrill Lynch International & Co.
Legal adviser(s):
Allen & Overy LLP, Clifford Chance LLP, Shepherd and Wedderburn LLP
Intertrust role:
Back-Up Servicer Facilitator, Replacement Cash Manager Facilitator, UK Directors, Financial Services, Corporate Administration, Share Trustee
Jurisdiction:
London
Issued:
£1.4bn Mortgage Backed Floating Rate Notes Due 2049
Offering documents
Investor documents
Notices
Section 172(1) of the companies Act 2016
As a special purpose vehicle the governance structure of the Company is such that the key policies have been predetermined at the time of issuance. The Directors have had regards to the matters set out in section 172(1) of the Companies Act 2006 as follows:
- with reference to subsection (a) concerning the likely consequences of any decision in the long term: the Transaction Documents have been formulated to achieve the Company’s purpose and business objectives, safeguard the assets and promote the success of the Company with a long term view and as disclosed in Note 6 in accordance with relevant securitisation legislation the Company is only permitted to retain minimal profit.
- the matters set out in subsections (b)–(f) have limited or no relevance to the Company and therefore they are not strategically important.
In accordance with s. 426B Companies Act 2006 a copy of this statement is available at https://www.intertrustgroup.com/our-services/capital-markets-services/public-transactions.
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