{
  "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-1991/regulation-7",
  "json_url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-1991/regulation-7.json",
  "legislation": "uksi/1991/880",
  "legislation_title": "The Financial Markets and Insolvency Regulations 1991",
  "legislation_url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-1991",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": "Interpretation of Part V",
  "text": "In this Part of these Regulations, unless the context otherwise requires—\n“the Bank” means the Bank of England;\n“business day” has the same meaning as in section 167(3) of the Act;\n...\n“CGO Service” means the computer-based system established by the Bank and The Stock Exchange to facilitate the transfer of specified securities;\n“CGO Service charge” means a charge of the kind described in section 173(1)(c) of the Act;\n“CGO Service member” means a person who is entitled by contract with CRESTCo Limited (which is now responsible for operating the CGO Service) to use the CGO Service;\n“clearing member” has the same meaning as in section 190(1) of the Act;\n“client” has the same meaning as in section 190(1) of the Act;\n“default fund contribution” has the same meaning as in section 188(3A) of the Act;\n...\n“former CGO Service member” means a person whose entitlement ... to use the CGO Service has been terminated or suspended;\n“indirect client” has the same meaning as in section 190(1) of the Act;\n“market charge” means a charge which is a market charge for the purposes of Part VII of the Act;\n“recognised body” has the same meaning as in section 190(1) of the Act;\n“recognised central counterparty” has the same meaning as in section 190(1) of the Act;\n“recognised CSD” has the same meaning as in section 190(1) of the Act;\n“settlement bank” means a person who has agreed under a contract with CRESTCo Limited (which is now responsible for operating the CGO Service) to make payments of the kind mentioned in section 173(1)(c) of the Act;\n“specified securities” has the meaning given in section 173(3) of the Act;\n“Talisman” means The Stock Exchange settlement system known as Talisman;\n“Talisman charge” means a charge granted in favour of The Stock Exchange over property credited to an account within Talisman maintained in the name of the chargor in respect of certain property beneficially owned by the chargor; ...\n“third country CSD” has the same meaning as in section 190(1) of the Act; and\n“transfer” when used in relation to specified securities has the meaning given in section 173(3) of the Act.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 7 omitted (24.5.1999) by virtue of The Financial Markets and Insolvency (CGO Service) Regulations 1999 (S.I. 1999/1209), regs. 1(1), 3(1)(a) (with reg. 1(2)(3))"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 7 substituted (24.5.1999) by The Financial Markets and Insolvency (CGO Service) Regulations 1999 (S.I. 1999/1209), regs. 1(1), 3(1)(b) (with reg. 1(2)(3))"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 7 inserted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 30(2) (with regs. 52-58)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in reg. 7 inserted (15.6.2009) by The Financial Markets and Insolvency Regulations 2009 (S.I. 2009/853), regs. 1(1), 3(3)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in reg. 7 omitted (31.12.2020) by virtue of The Financial Markets and Insolvency (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/341), regs. 1(3), 11(2) (with reg. 21) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 23(b) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in reg. 7 omitted (24.5.1999) by virtue of The Financial Markets and Insolvency (CGO Service) Regulations 1999 (S.I. 1999/1209), regs. 1(1), 3(1)(c) (with reg. 1(2)(3))"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in reg. 7 inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 20(3)(b) (with regs. 7(4), 9(1))"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in reg. 7 substituted (24.5.1999) by The Financial Markets and Insolvency (CGO Service) Regulations 1999 (S.I. 1999/1209), regs. 1(1), 3(1)(d) (with reg. 1(2)(3))"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Word in reg. 7 omitted (28.11.2017) by virtue of The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 20(3)(a) (with regs. 7(4), 9(1))"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 7 in force at 25.4.1991, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1991/880/regulation/7",
    "retrieved_at": "2026-10-29T14:46:16.241256+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."
}