| Consider the following statements about 'Special Purpose Vehicle' (SPV) and Choose the correct answer: |
| 1 An SPY is primarily a subsidiary business association of persons or entities designed to serve as counterparty for swaps and other credit sensitive derivative instruments. |
| 2. An SPY is a company and it has to follow the rules of formation of a company laid down in the |
| Companies Act. Which of the following statements is/are correct? |
A) 1 only
B) 2 only
C) Both 1 & 2
D) neither 1 nor 2
Correct Answer: C
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