{
  "url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/schedule-3/paragraph-1",
  "json_url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/schedule-3/paragraph-1.json",
  "legislation": "ukdsi/2001/0110387449",
  "legislation_title": "The Uncertificated Securities Regulations 2001",
  "legislation_url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001",
  "path": "schedule/3/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "Before—\n(a) refusing an application for approval as an Operator made under regulation 4 (whether or not pursuant to paragraph 1(1) of Schedule 2);\n(b) withdrawing an Operator’s approval under regulation 7(2);\n(c) giving a direction under regulation 8;\n(d) exercising any power conferred by paragraph 1(3) of Schedule 2;\n(e) exercising the power to refuse leave under paragraph 2(2) of Schedule 2; or\n(f) giving a direction under paragraph 2(4) of Schedule 2, the Treasury shall—\n(i) give written notice of their intention to do so to the Operator;\n(ii) take such steps as they consider reasonably practicable to bring the notice to the attention of system-users; and\n(iii) publish the notice in such manner as they think appropriate for bringing it to the attention of other persons who are, in their opinion, likely to be affected.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2001/0110387449/schedule/3/paragraph/1",
    "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."
}