{
  "url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/schedule-7/paragraph-5",
  "json_url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001/schedule-7/paragraph-5.json",
  "legislation": "ukdsi/2001/0110387449",
  "legislation_title": "The Uncertificated Securities Regulations 2001",
  "legislation_url": "https://openlegislation.uk/draft-uncertificated-securities-regulations-2001",
  "path": "schedule/7/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "In section 48 of the Finance Act 1949—\n(a) in subsection (1), after “Bank of England” where it first appears there shall be inserted “or the Operator of any relevant system”;\n(b) in the proviso to subsection (1)—\n(i) for “the Bank of England shall not” there shall be substituted “neither the Bank of England nor any such Operator shall”; and\n(ii) for “to the Bank” there shall be substituted “to the Bank, or to that Operator as the case may be,”;\n(c) in subsection (2), after “Bank of England” there shall be inserted “or the Operator, as the case may be,”; and\n(d) after subsection (4) the following subsection shall be added—\n“(5) In this section, “Operator” and “relevant system” have the same meanings as they have in the Uncertificated Securities Regulations 2001.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1949 c. 47."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2001/0110387449/schedule/7/paragraph/5",
    "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."
}