# The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003, Paragraph 25


In regulation 3–
(a) in paragraph (2)–
(i) for “under” (where first occurring), substitute “in respect of particular units of”;
(ii) for “instrument is” (wherever occurring), substitute “units are”;
(iii) for “under the instrument” (where second and third occurring), substitute “in respect of those units”;
(b) in paragraph (3)–
(i) for “under”, substitute “in respect of particular units of”;
(ii) after “specified in the”, insert “terms of the”;
(c) in paragraph (4), for “under”, substitute “in respect of particular units of”;
(d) in paragraph (5)–
(i) for “under”, substitute “in respect of particular units of”;
(ii) after “specified in” insert, “, or determined in accordance with the terms of,”;
(iii) in subparagraph (b), for “the instrument”, substitute “those units”;
(e) after paragraph (8), add–
“(9) Paragraphs (6) to (8) do not apply in respect of uncertificated units of loan instruments.”.

---
Source: https://www.legislation.gov.uk/ukdsi/2003/0110464095/schedule/1/paragraph/25 (the official version)
Page: https://openlegislation.uk/draft-uncertificated-securities-amendment-eligible-debt-securities-regulations-2003/schedule-1/paragraph-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.