Securitisation defined as ARCs acquiring financial assets using security receipts representing undivided interests. The Act defines securitisation as acquisition of financial assets by an asset reconstruction company from an originator, achieved either by raising funds from qualified buyers through issuance of security receipts representing an undivided interest in such assets or by other means. It defines security receipt as a receipt or other security issued by an ARC to a qualified buyer under a scheme, evidencing the holder's undivided right, title or interest in the financial asset involved in the securitisation.