securitisation transaction "securitisation transaction" means an arrangement approved by the Securities Commission pursuant to sections 32 of the Securities Commission Act 1993 [Act 498] which involves the transfer of assets or risks to a third party where such transfer is funded by the issuance of debts securities to investors. PU(A) 473/2003 - INCOME TAX (DEDUCTION FOR EXPENDITURE ON ISSUANCE OF ASSET BACKED DEBT SECURITIES) RULES 2003 2. Deduction.