OpenLegislation

Article 2 Exemption of Operator

Original text. Later amendments are not shown.

An Operator is an exempted person as respects anything done by him, otherwise than in his capacity as a person providing clearing services for the transaction of investment business, for the purposes of operating a computer-based system and procedures which—

(a)

enable title to investments to be evidenced and transferred without a written instrument; and

(b)

facilitate matters supplementary and incidental to those specified in sub-paragraph (a) above.