# The Uncertificated Securities Regulations 1992, Regulation 82: Further provisions


(1) Upon the conversion of a security into, or the issue of units of a security in, uncertificated form, a controller recorded on a record of entitlements prepared for the security as having an entitlement to a unit of the security converted or issued shall there-upon have that entitlement save that where, and for as long as, the sum of the entitlements on the Operator’s and company’s records of entitlements exceeds the units of a security in issue, the question whether the controller has the entitlement is in addition to be deter-mined by ascertaining whether the controller would have been recorded with it if the excess had not arisen.
(2) Schedule 5 to these Regulations makes further provision with respect to the con-version of a security into, or issue of units of a security in, uncertiticated form.

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Source: https://www.legislation.gov.uk/uksi/1992/225/regulation/82 (the official version)
Page: https://openlegislation.uk/uncertificated-securities-regulations-1992/regulation-82
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.