The Communiqué Serial: III No: 46, (published in the Official Gazette dated 20 July 2011 and numbered 28000) amended the Communiqué Serial: III, No: 38 on Principles Regarding Asset Backed Securities. Factoring institutions are thus allowed to issue asset covered securities backed by factoring receivables as collateral. The Investors’ Protection Fund has been granted broader authorisation for the management and liquidation of the cover asset pool in the event an issuer becomes insolvent.