{
  "url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/regulation-48",
  "json_url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/regulation-48.json",
  "legislation": "ukdsi/2001/0110387449",
  "legislation_title": "The Uncertificated Securities Regulations 2001",
  "legislation_url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001",
  "path": "regulation/48",
  "kind": "regulation",
  "number": "48",
  "heading": "Exemption from liability",
  "text": "Regulations 21(5), 28(9), 32(9) and (10), and 33(11) shall not apply to any of the following or its officers—\n(a) the Crown;\n(b) any person acting on behalf of the Crown;\n(c) the Bank of England; or\n(d) in respect of a security which immediately before it became a participating security was transferable by exempt transfer within the meaning of the Stock Transfer Act 1982, a participating issuer.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1982 c. 41."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2001/0110387449/regulation/48",
    "retrieved_at": "2026-10-30T15:26:35.791495+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."
}