{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-1995/schedule-2/paragraph-8",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-1995/schedule-2/paragraph-8.json",
  "legislation": "uksi/1995/3272",
  "legislation_title": "The Uncertificated Securities Regulations 1995",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-1995",
  "path": "schedule/2/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": null,
  "text": "(1) Before the Treasury exercise a power under paragraph 1(3)(b) or (c), or their power to refuse leave under paragraph 2(2), or their power to give a direction under paragraph 2(4), in respect of an Operator, they shall—\n(a) give written notice of their intention to do so to the Operator and take such steps (whether by publication or otherwise) as they think appropriate for bringing the notice to the attention of any other person who in their opinion is likely to be affected by the exercise of the power; and\n(b) have regard to any representation made within such time as they consider reasonable by the Operator or by any such other person.\n(2) A notice under subparagraph (1) shall give particulars of the manner in which the Treasury propose to exercise the power in question and state the reasons for which they propose to act; and the statement of reasons may include matters contained in any report received by them under paragraph 3.\n(3) Any direction given under this Schedule shall, on the application of the person by whom it was given, be enforceable by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.\n(4) The fact that any rules made by an Operator have been altered by or pursuant to a direction given by the Treasury under this Schedule shall not preclude their subsequent alteration or revocation by the Operator.\n(5) In determining under this Schedule whether any guidance has, or is likely to have, any particular effect the Treasury and the Director may assume that the persons to whom it is addressed will act in conformity with it.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "added",
      "affecting": "uksi/2000/1682",
      "affecting_title": "The Uncertificated Securities (Amendment) Regulations 2000"
    },
    {
      "type": "revoked",
      "affecting": "uksi/2000/311",
      "affecting_title": "The Competition Act 1998 (Transitional, Consequential and Supplemental Provisions) Order 2000"
    },
    {
      "type": "revoked",
      "affecting": "uksi/2000/311",
      "affecting_title": "The Competition Act 1998 (Transitional, Consequential and Supplemental Provisions) Order 2000"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/2000/2952",
      "affecting_title": "The Banking Consolidation Directive (Consequential Amendments) Regulations 2000"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/2000/2952",
      "affecting_title": "The Banking Consolidation Directive (Consequential Amendments) Regulations 2000"
    },
    {
      "type": "revoked",
      "affecting": "uksi/2000/311",
      "affecting_title": "The Competition Act 1998 (Transitional, Consequential and Supplemental Provisions) Order 2000"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/1999/506",
      "affecting_title": "The Competition Act 1998 (Competition Commission) Transitional, Consequential and Supplemental Provisions Order 1999"
    },
    {
      "type": "amended",
      "affecting": "uksi/1999/506",
      "affecting_title": "The Competition Act 1998 (Competition Commission) Transitional, Consequential and Supplemental Provisions Order 1999"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/3272/schedule/2/paragraph/8",
    "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."
}