Paragraph 5

A relevant system must be constructed and operate in such a way&—

(a)

so as to minimise the possibility of unauthorised access to, or modification of, any program or data held in any computer forming part of the Operator-system;

(b)

that each dematerialised instruction is properly authenticated in accordance with the specifications of the Operator, which shall provide that each dematerialised instruction—

(i)

is identifiable as being from the computers of a particular system-participant; and

(ii)

is designed to minimise fraud and forgery;

(c)

that each dematerialised instruction, in accordance with the specifications of the Operator, expresses by whom it has been sent and, where relevant, on whose behalf it has been sent;

(d)

that each dematerialised instruction, in accordance with the specifications of the Operator, indicates—

(i)

where it is sent to a system-participant or the Operator, that it is addressed to that system-participant or the Operator; and

(ii)

where it is sent to a person who is using the facilities of a sponsoring system-participant to receive dematerialised instructions, that it is addressed to that person and the sponsoring system-participant; and

(iii)

where it is sent to the Operator in order for him to send an Operator-instruction to a system-participant, that it is addressed to the Operator, to the system-participant and, if the system-participant is acting as a sponsoring system-participant, to the relevant person on whose behalf the sponsoring system-participant receives dematerialised instructions; and

(e)

that the possibility for a system-participant to send a dematerialised instruction on behalf of a person from whom he has no authority is minimised.