# The Local Authority (Stocks and Bonds) (Amendment) Regulations 1985, Note: Explanatory note


The Bank of England and The Stock Exchange have, through the Central Gilts Office of the Bank (CGO), established a computer-based system, known as “the CGO Service”, to facilitate the transfer of gilt-edged securities.
By the Stock Transfer Act 1982, transfers of securities issued by a local authority may, where provision is made to that effect by regulations under paragraph 4 of Schedule 13 to the Local Government Act 1972 with the agreement of the authority, be effected through the medium of the CGO Service without an instrument in writing. These regulations amend the Local Authority (Stocks and Bonds) Regulations 1974 to make such provision in the case of the authorities mentioned in the Schedule.

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Source: https://www.legislation.gov.uk/uksi/1985/1148/note (the official version)
Page: https://openlegislation.uk/local-authority-stocks-and-bonds-amendment-regulations-1985/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.