S.I. No. 610 of 2007

ASSET COVERED SECURITIES ACT 2001 (SECTION 91(1)) (SUBSTITUTION ASSETS) (REPEAL) REGULATIONS 2007

Notice of the making of this Statutory Instrument was published in

�Iris Oifigi�il� of 7th September, 2007.

In exercise of the powers conferred the Authority by section 91(1) of the Asset Covered Securities Act 2001 (No. 47 of 2001) (the �Act�), including without limitation by reference to section 91(2)(d) of the Act, the Irish Financial Services Regulatory Authority, in performance of the functions of the Authority in accordance with section 33C(1)(a) of the Central Bank Act 1942 (No. 22 of 1942), hereby makes the following regulations:

1. These regulations may be cited as the Asset Covered Securities Act 2001 (Section 91(1)) (Substitution Assets) (Repeal) Regulations 2007.

2. The Asset Covered Securities Act, 2001 (Sections 91(1)) [(Substitution Assets)] Regulation, 2002 ( S.I. No. 385 of 2002 ) is repealed.

Signed for and on behalf of

THE IRISH FINANCIAL SERVICES REGULATORY AUTHORITY

31 August 2007

Mr. PATRICK NEARY

Chief Executive

Irish Financial Services Regulatory Authority

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These regulations repeal the Asset Covered Securities Act, 2001 (Sections 91(1)) [(Substitution Assets)] Regulation, 2002 ( S.I. No. 385 of 2002 ).