{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-32",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-32.json",
  "legislation": "uksi/1992/225",
  "legislation_title": "The Uncertificated Securities Regulations 1992",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-1992",
  "path": "regulation/32",
  "kind": "regulation",
  "number": "32",
  "heading": "Consent to transfers of entitlements by controllers",
  "text": "(1) It is the duty of a controller to consent to the transfer of an entitlement as transferor if, but only if:\n(a) when requested to give his or its consent under the Operator’s part of the system, he or it knows the total number of entitlements he or it is being requested to consent to the transfer of and the identity of the uncertificated security concerned;\n(b) when requested to give his or its consent under the Operator’s part of the system, he or it knows the identity of the account holder in relation to whom he or it is being requested to give consent;\n(c) (in the case of a company controller) he or it is in receipt of an instruction from the account holder for whom the entitlement to be transferred is held to consent to the transfer;\n(d) (in the case of a commercial controller) he or it is authorised (where required, by an instruction) by the account holder to consent to the transfer of the entitlement; and\n(e) he or it holds an entitlement for the account holder, which he or it has not previously consented to the transfer of and which is not the subject of an instruction under regulation 33.\nThis paragraph is without prejudice to the provisions of Chapters II to IV of Part VI of these Regulations.\n(2) In addition a company controller shall not consent to a transfer of an entitlement if, being requested to consent to the transfer of a number of entitlements by a communication by means of the Operator’s part of the system, he or it cannot satisfy in full the request.\n(3) Subject to regulation 14(7) it is the duty of a commercial or alternative company controller to consent to a transfer of an entitlement as transferee if, but only if:\n(a) when requested to give his or its consent under.the Operator’s part of the system, he or it knows the identity of the person for whom the entitlement is to be held;\n(b) he or it is authorised to hold the entitlement for that person; and\n(c) when requested to give his or its consent under the Operator’s part of the system, he or it knows the number of entitlements he or it is being asked to consent to the transfer of and the identity of the uncertificated security concerned.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/225/regulation/32",
    "retrieved_at": "2026-10-29T14:29:49.332796+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}