Regulation 29

amounts outstanding to the merchant bank under credit facilities granted to any property corporation or to any related corporation of a property corporation for use by the property corporation;

amounts outstanding to the merchant bank under credit facilities granted to any person other than a property corporation —

in the case where the person is a corporation — for the purpose of financing or facilitating any property‑related activity of the person or a related corporation of the person; and

in any other case — for the purpose of financing or facilitating the property‑related activities of the person;

amounts of debentures beneficially held by the merchant bank and issued by any property corporation;

amounts of debentures beneficially held by the merchant bank and issued by any person other than a property corporation, where the payment of principal or interest is contingent (whether wholly or in part) on the turnover, profits or cashflow from any property‑related activity;

amounts paid by the merchant bank for securities transferred to it arising from a repurchase transaction between the merchant bank and a property corporation, on terms that require the future transfer of equivalent securities by the merchant bank to the property corporation;

amounts of contingent liabilities incurred by the merchant bank —

in respect of any obligation of a property corporation; or

in respect of any obligation of any other person, where the obligation is undertaken in connection with any property‑related activity;

where the merchant bank has entered into any agreement (including a credit derivative agreement) with any other party under which the other party would secure a benefit or avoid a loss where there is —

a failure by a property corporation to perform its obligations;

a decline in the creditworthiness of a property corporation; or

a failure by any person other than a property corporation to perform its obligations where such obligations are undertaken in connection with any property‑related activity,the highest amount of the benefit or loss that may be secured or avoided (as the case may be) except to the extent that such amount constitutes part of any amounts under sub‑paragraph (f);

amounts payable to the merchant bank by any property corporation under a bill of exchange or promissory note.

credit facilities granted to the Government or to any statutory board;

securities issued by the Government under any written law or bonds issued by any statutory board;

debentures held under an agreement entered into by the merchant bank for the underwriting of an issue of such debentures, for a period not exceeding 8 weeks after the date of the launch of the issue;

loans, debentures or other assets forming the subject matter of a securitisation transaction where the criteria determined by the Authority for effecting a clean sale of assets by the merchant bank have been complied with; or

any instrument or transaction described in paragraph (1) to the extent that the merchant bank would be indemnified or otherwise protected from losses that may be incurred by it under that instrument or transaction pursuant to a guarantee issued by any other bank or merchant bank, or any credit derivative entered into by the merchant bank with any person other than a property corporation.