{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-38",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-38.json",
  "legislation": "uksi/1992/225",
  "legislation_title": "The Uncertificated Securities Regulations 1992",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-1992",
  "path": "regulation/38",
  "kind": "regulation",
  "number": "38",
  "heading": "Consequences of refusal of registration",
  "text": "(1) Where a company refuses for any reason to register on the appropriate register a person as a holder of a unit of an uncertificated security in response to a proper instruction to register, it shall instead register, as the holder, the default nominee of the controller that issued the proper instruction to register that person.\n(2) Having registered a default nominee under this regulation, the company shall notify the controller concerned of the registration as soon as reasonably practicable.",
  "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/38",
    "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."
}