Essentially as a common law country, Australia does not have a basic law dealing with securitisation transactions. An assignment of actionable claims or choses in action is possible using the same procedures as under UK law.
As under most common law countries, transfer of the receivables is subjected to duty, but duty exemptions have been announced by several provinces. In addition, the marketplace has adopted a practice whereby the origination itself is done in the name of a trustee; such that the originator is the beneficiary to begin with, and later transfers beneficial interest to the SPV on securitisation.
Regulatory guidelines of APRA:
The Australian Prudential Regulation Authority has issued guidelines on securitisation by banks and financial intermediaries regulated by the APRA. Full text of the guidelines is on APRA website here.
The securitisation and fund management guidelines are here.
Securitisation laws in Australia: