{
  "url": "https://openlegislation.uk/draft-uncertificated-securities-amendment-and-eu-exit-regulations-2019/regulation-12",
  "json_url": "https://openlegislation.uk/draft-uncertificated-securities-amendment-and-eu-exit-regulations-2019/regulation-12.json",
  "legislation": "ukdsi/2019/9780111178706",
  "legislation_title": "The Uncertificated Securities (Amendment and EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/draft-uncertificated-securities-amendment-and-eu-exit-regulations-2019",
  "path": "regulation/12",
  "kind": "regulation",
  "number": "12",
  "heading": "Transitional and savings provisions for issuers",
  "text": "(1) Paragraphs (2) and (3) apply where—\n(a) title to units of a security to which Article 49(1) of the CSD regulation applies is recorded on the Operator register of securities of a CSD Operator immediately before the transition period for that CSD Operator ends (in accordance with regulation 11(2)), and\n(b) the CSD Operator is recognised as a recognised CSD.\n(2) The issuer of the security is not required to make a request under Article 49(2) of the CSD regulation for recording its securities in the relevant system.\n(3) The fact that the issuer of the security has not made a request as described in paragraph (2) does not prevent—\n(a) title to units of that security continuing to be evidenced otherwise than by a certificate by virtue of the Uncertificated Securities Regulations 2001, and\n(b) transfer of title to units of that security continuing to be subject to those Regulations.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2019/9780111178706/regulation/12",
    "retrieved_at": "2026-10-30T15:01:46.673022+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}