FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

The Custodian will receive a fee, payable on each Interest Payment Date, subject to and in accordance
with the relevant Issuer Priority of Payments.
Role of the statutory auditor
Mazars & Guerard, whose registered office is at Le Vinci 4 allée de l’Arche 92075 La Défense, France,
has been appointed as statutory auditor (commissaire aux comptes) in order to certify the annual report
of the Issuer in accordance with article L.214-48-VI° of the Monetary and Financial Code, and shall be
responsible for carrying out certain other duties as set out in the Issuer Regulations. The accounts of the
Issuer will be prepared and published in French. A translation in English will be made available to the
Management Company, the Unitholders and the Noteholders for information purposes only in order to
assist understanding of the original French version of the accounts. In the event of any discrepancy
between the original French version of the accounts and the English translation, the original French
version will prevail. The translator shall not be responsible for any discrepancies between the original
French version of the accounts and the English translation.
The statutory auditor will receive a fee, payable on each Interest Payment Date, subject to and in
accordance with the relevant Issuer Priority of Payments.
Fees and Expenses of the Issuer
In accordance with the Issuer Regulations, the Issuer will, on each Interest Payment Date, pay the Fees
and Expenses of the Management Company, the Custodian, each FCC Servicer, the Paying Agent, the
Issuer Account Bank and Cash Manager, its statutory auditor and any other relevant third parties, in each
case together with any applicable VAT, subject to and in accordance with the relevant Issuer Priority of
Payments.
Accounting and financial information
Annual information:
Within four (4) months following the end of each financial year, the Management Company shall compile
an annual report containing the following information:
(a) the inventory of the Issuer’s assets, which shall include:
(i) the inventory of the portfolio of Receivables; and
(ii) the amount of the cash standing to the credit of the Issuer Accounts;
(b) the annual financial statements of the Issuer, which shall include:
(i) the balance sheet;
(ii) the income statement; and
(iii) the annex, specifying the accounting methods used and, if any, a detailed statement of the Issuer’s
liabilities and the guarantees given to the Issuer;
(c) a management report including:
(i) the amount of Fees and Expenses and remuneration paid by the Issuer;
(ii) the liquidity ratio as being the ratio (expressed as a percentage) between: (1) the amount of
unallocated moneys standing from time to time to the credit of the Issuer’s bank accounts, and
(2) the Issuer’s assets;
(iii) a description of the operations of the Issuer; and
(iv) information relating to the outstanding Receivables and the outstanding Notes and Units;
(d) information on any amendments made to the Issuer Regulations; and
(e) any event(s) which may have an effect on the outstanding Notes and/or Units issued by the Issuer.
The statutory auditor of the Issuer shall certify the accuracy of the information contained in the annual
activity report.
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