tied MCD article 3(1)(b) credit intermediary

    an MCD article 3(1)(b) credit intermediary who acts on behalf of and under the full and unconditional responsibility of:

      1. (a) only one MCD article 3(1)(b) creditor;
      1. (b) only one group; or
      1. (c) a number of MCD article 3(1)(b) creditors or groups which does not represent the majority of the market.

    [Note: article 4(7) of the MCD]

Glossary Legal Instruments