For the purposes of this Article, in the case of securitisations which do not involve the issuance of securities, the reference to ‘securitisations the securities of which were issued’ shall be deemed to mean securitisations the initial securitisation positions of which were created.
Chun críocha an Airteagail seo, i gcás urrúsuithe nach mbaineann le hurrúsuithe a eisiúint, measfar go gciallóidh an tagairt do “urrúsuithe ar eisíodh a n-urrúis” urrúsuithe ar cruthaíodh na chéad suíomhanna urrúsúcháin díobh.