Explanatory note

These Regulations specify further gilt-edged securities, namelysecurities which are on registers kept by the Bank of England and issuedin the United Kingdom by the European Bank for Reconstruction andDevelopment, which may be transferred by CGO Service members through theCGO Service established by the Central Gilts Office of the Bank and theInternational Stock Exchange. Other securities which may be transferredare specified in the Stock Transfer (Gilt-edged Securities) (ExemptTransfer) Regulations 1985 (S.I. 1985/1145, amended by S.I. 1990/1027),1987 (S.I. 1987/1294), 1988 (S.I. 1988/232), 1989 (S.I. 1989/880) and1990 (S.I. 1990/1211, 2547). Transfers will be effective under section1(2) of the Stock Transfer Act 1982 without the need for an instrumentin writing.