special purpose vehicle
Definitions over time (1)
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06/01/2010 – 09/12/2011 Article 13, Solvency II Directive Scope: Whole act
For the purposes of this Directive, the following definitions shall apply:
‘special purpose vehicle’ means any undertaking, whether incorporated or not, other than an existing insurance or reinsurance undertaking, which assumes risks from insurance or reinsurance undertakings and which fully funds its exposure to such risks through the proceeds of a debt issuance or any other financing mechanism where the repayment rights of the providers of such debt or financing mechanism are subordinated to the reinsurance obligations of such an undertaking;
Other definitions of this term in this act (1)
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Used in (0 places in 0 provisions on 12/11/2026)
No text uses this concept on 12/11/2026.