# The Uncertificated Securities Regulations 2001, Paragraph 22


(1) Subject to subparagraph (2), a relevant system must comprise procedures which provide that an Operator-instruction to a participating issuer relating to a right, privilege or benefit attaching to or arising from an uncertificated unit of a security, is generated only if it has—
(a) received a properly authenticated dematerialised instruction attributable to the system-member having the right, privilege or benefit requiring the Operator to generate an Operator-instruction to the participating issuer; or
(b) been required to do so by a court in the United Kingdom or by or under an enactment.
(2) A relevant system must comprise procedures which provide that an Operator-instruction to a participating issuer relating to a right, privilege or benefit attaching to or arising from an uncertificated unit of a security, may be generated if necessary to correct an error and if in accordance with the rules made and practices instituted by an Operator in order to comply with this Schedule.

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Source: https://www.legislation.gov.uk/ukdsi/2001/0110387449/schedule/1/paragraph/22 (the official version)
Page: https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/schedule-1/paragraph-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.