# The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1985, Note: Explanatory note


The Bank of England and The Stock Exchange have established a computer-based system, known as the CGO Service, to facilitate the transfer of gilt-edged securities. Membership of the new system derives from a contract with the Bank. These Regulations allow a member to transfer specified gilt-edged securities through the CGO Service. Such a transfer will be effective under section 1(2) of the Stock Transfer Act 1982 without the need for an instrument in writing.
As a result of other Regulations and Rules coming into force on 2nd January 1986 simultaneously with these Regulations, members of the CGO Service will be able to transfer almost all gilt-edged securities managed by the Bank through the new system. Those Regulations and Rules are: the Stock Transfer (Gilt-edged Securities) (CGO Service) Regulations 1985 (S.I. 1985/1144), the Government Stock (Amendment) Regulations 1985 (S.I. 1985/1146), the Gas (Stock) (Amendment) Regulations 1985 (S.I. 1985/1149), the Local Authority (Stocks and Bonds) (Amendment) Regulations 1985 (S.I. 1985/1148) and the Exchange of Securities (General) (Amendment) Rules 1985 (S.I. 1985/1147).

---
Source: https://www.legislation.gov.uk/uksi/1985/1145/note (the official version)
Page: https://openlegislation.uk/stock-transfer-gilt-edged-securities-exempt-transfer-regulations-1985/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.