{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-1995/schedule-1/paragraph-20",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-1995/schedule-1/paragraph-20.json",
  "legislation": "uksi/1995/3272",
  "legislation_title": "The Uncertificated Securities Regulations 1995",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-1995",
  "path": "schedule/1/paragraph/20",
  "kind": "paragraph",
  "number": "20",
  "heading": null,
  "text": "An Operator’s rules and practices must require—\n(a) that each system-participant is able to send and receive properly authenticated dematerialised instructions;\n(b) that each system-member has arrangements—\n(i) for properly authenticated dematerialised instructions attributable to him to be sent;\n(ii) for properly authenticated dematerialised instructions to be received by or for him; and\n(iii) with a settlement bank for payments to be made, where appropriate, for units of a security transferred by means of the relevant system; and\n(c) that each participating issuer is able to respond with sufficient speed to Operator-instructions.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "added",
      "affecting": "uksi/2000/1682",
      "affecting_title": "The Uncertificated Securities (Amendment) Regulations 2000"
    },
    {
      "type": "added",
      "affecting": "uksi/2000/1682",
      "affecting_title": "The Uncertificated Securities (Amendment) Regulations 2000"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/3272/schedule/1/paragraph/20",
    "retrieved_at": "2026-10-29T12:55:24.582046+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."
}