# The Uncertificated Securities Regulations 2001, Paragraph 14


In the 1965 Regulations—
(a) in regulation 1(3), for “Subject (in the case of stock which is a participating security) to any provision made by or under the 1995 Regulations, in” there shall be substituted “In”;
(b) in regulation 2(1), for “Subject to Regulation 5 of the Stock Transfer (Gilt-edged Securities) (CGO Service) Regulations 1985 and (in the case of stock which is a participating security) any provision made by or under the 1995 Regulations, every” there shall be substituted “Every”;
(c) in regulation 3B(2), for “the register” there shall be substituted—
“(a) a register kept under regulation 1(1) or (1A) hereof; or
(b) a register kept by the Operator of a relevant system under the 2001 Regulations,”;
(d) in regulation 4—
(i) the words “and Regulation 4B” shall be omitted from paragraph (1);
(ii) after paragraph (4) there shall be inserted—
“(5) Units of stock which are recorded on a register kept by the Operator of a relevant system under the 2001 Regulations shall be transferable in no other manner than by means of that system in accordance with those Regulations.
(6) A strip shall be transferable in no other manner than by means of a relevant system operated by an Operator in accordance with the 2001 Regulations.”;
(e) in regulation 5, for “Subject (in the case of stock which is a participating security) to any provision made by or under the 1995 Regulations, the” there shall be substituted “The”;
(f) in regulation 10—
(i) for “Subject (in the case of stock which is a participating security) to any provision made by or under the 1995 Regulations, the” there shall be substituted “The”; and
(ii) there shall be omitted the words from “or, in the case of an exempt transfer” to the end;
(g) in regulation 14(6), 15(4) and 16(4)—
(i) there shall be omitted the words “to Regulation 4B and”; and
(ii) for “the 1995 Regulations” there shall be substituted “the 2001 Regulations”;
(h) in regulation 23(1), for ““the 1995 Regulations” means the Uncertificated Securities Regulations 1995 as amended from time to time;” there shall be substituted ““the 2001 Regulations” means the Uncertificated Securities Regulations 2001 as amended from time to time;”;
(i) in regulation 23(1), the definitions of “the CGO Service”; “GCO Service member”; and “an exempt transfer” shall be omitted; and
(j) in regulation 23(1A), for “the 1995 Regulations” there shall be substituted “the 2001 Regulations”.

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Source: https://www.legislation.gov.uk/ukdsi/2001/0110387449/schedule/7/paragraph/14 (the official version)
Page: https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/schedule-7/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.