Regulation 3 Amendment of principal Regulations

For regulation 3 of the principal Regulations (representation by the Bank), there shall be substituted the following–

“Representation by the CGO

3

Where the CGO indicates through the CGO Service or on an instrument of transfer in writing that securities are, or have been, held within the CGO Service for the account of a person, such indication shall be taken as a representation by the CGO to any person acting on the faith of it that the person for whose account the securities are or were so held is or was a CGO Service member at the time the securities are or were so held, but such indication shall not be taken as a representation that the CGO Service member has or had any title to the securities.”.