# The Uncertificated Securities (Amendment and EU Exit) Regulations 2019, Regulation 12: Transitional and savings provisions for issuers


(1) Paragraphs (2) and (3) apply where—
(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
(b) the CSD Operator is recognised as a recognised CSD.
(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.
(3) The fact that the issuer of the security has not made a request as described in paragraph (2) does not prevent—
(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
(b) transfer of title to units of that security continuing to be subject to those Regulations.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111178706/regulation/12 (the official version)
Page: https://openlegislation.uk/draft-uncertificated-securities-amendment-and-eu-exit-regulations-2019/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.