{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-41",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-41.json",
  "legislation": "uksi/1992/225",
  "legislation_title": "The Uncertificated Securities Regulations 1992",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-1992",
  "path": "regulation/41",
  "kind": "regulation",
  "number": "41",
  "heading": "Maintenance of the appropriate register",
  "text": "(1) A company having in issue an uncertificated security shall maintain the appropriate register for that security in accordance with the provisions of this Chaptger of this Part of these Regulations.\n(2) The appropriate register for an uncertificated security shall be made up periodically and not, subject to regulations 39, 42, 72, 73 and 78, continuously.\nAccordingly, subject to those regulations, no proper instruction to register received by a company may be given effect to other than at a periodic update of the appropriate register.\n(3) A periodic update of an appropriate register for an uncertificated security shall be carried out:\n(a) after each general call for instructions; and\n(b) after each fixed register date of the company.\nIn each case the register shall be made up from the proper instructions to register the company has received in response to the general call or with respect to the fixed register date, together with any standing instructions that are extant.\n(4) A periodic update of an appropriate register for an uncertificated security shall take the form of the preparation of a new version of the register; the new version shall supersede the old version of the register with effect from the completion of the update (and not with effect from any earlier date).\n(5) Notwithstanding the provisions of any other regulation, a company shall not update an appropriate register under this regulation unless, at the date by reference to which the register is to be updated, the sum of the entitlements recorded on the operator’s and company’s records of entitlements reconciled with the total number of units of the relevant security then in issue or the records have been made to so reconcile as at that date by their amendment under regulations 72 and 73.",
  "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/41",
    "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."
}