The Securitization Act of 2004, Republic Act No. 9267 (Philippines)

The Act requires that the Special Purpose Entity (SPE) in the form of a Special Purpose Corporation should be a stock corporation, and shall perform trust functions duly licensed under the General Banking Law. It enumerates the information required to be contained in the proposed plan for securitization of the SPE, which shall be submitted to the Securities and Exchange Commission (SEC) for its approval. All Asset-Backed Securities are further required to be registered with SEC. The Act enumerates the rights of an SPE and is prohibited from engaging in any other activity other than what is contained in its plan for securitization.