OpenLegislation

Regulation 79 Duty of company to make adequate preparations and arrangements

Original text. Later amendments are not shown.

It is the.duty of a company proposing to issue a new security in uncertificated form or to issue units of a security in such form to make, prior to the issue:

(a)

adequate preparations and arrangements for the carrying out of its functions under these Regulations in connection with the security (in particular by making arrangements for the keeping of a record of entitlements with respect to the security or the units); and

(b)

adequate preparations and arrangements for the issue of the units, whether of the new security or of an existing security, in particular (in the case of a new security) by preparing a record of entitlements to take effect as its record of entitlements for the security from the moment of issue.