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The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1990

S.I. 1990/1211 · Made 7 June 1990

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

SECURITIES

Made 7th June 1990

Laid before Parliament 12th June 1990

Coming into force 3rd July 1990

Whereas the securities which are the subject of these Regulations are for the time being specified in the list in Schedule 1 to the Stock Transfer Act 1982f1;

And whereas the person issuing such securities has agreed that the securities may be transferred through the medium of a computer-based system established by the Bank of England and The International Stock Exchange:

Now, therefore, the Treasury, in exercise of the powers conferred on them by section 1(1) and (4) of the Stock Transfer Act 1982, and of all other powers enabling them in that behalf, hereby make the following Regulations:–

Annotations to the whole text

Footnotes

f1

1982 c. 41, to which there are amendments not relevant to these Regulations.

Contents

  1. 1Citation and Commencement
  2. 2Interpretation
  3. 3Exempt Transfers
  4. Signature
  5. Explanatory note

1Citation and Commencement

These Regulations may be cited as the Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1990 and shall come into force on 3rd July 1990.

2Interpretation

In these regulations:–

  • “the Bank” means the Bank of England;

  • “the CGO” means the Central Gilts Office of the Bank;

  • “the CGO Service” means the computer-based system established by the Bank and The International Stock Exchange to facilitate the transfer of gilt-edged securities; and “CGO Service member” means a person who is entitled under a contract with the Bank to use the CGO Service.

3Exempt Transfers

Securities on registers kept by the Bank which have been issued, or which may from time to time be issued, by the Government of Finland or the Government of Gibraltar may be transferred by a CGO Service member through the medium of the CGO Service.

Signature

Kenneth Carlisle

David Lightbown

Two of the Lords Commissioners of Her Majesty’s Treasury

7th June 1990

Explanatory note

(This note is not part of the Regulations)

These Regulations specify further gilt-edged securities, namely securities which are on registers kept by the Bank of England and issued by the Government of Finland or the Government of Gibraltar, which may be transferred through the CGO Service established by the Central Gilts Office of the Bank. Other securities which may be so transferred are specified in the Stock Transfer (Gilt-Edged Securities) (Exempt Transfer) Regulations 1985 (S.I. 1985/1145, amended by S.I. 1990/1027), 1987 (S.I. 1987/1294), 1988 (S.I. 1988/232) and 1989 (S.I. 1989/880). Such transfers will be effective under section 1(2) of the Stock Transfer Act 1982 without the need for an instrument in writing.