Regulation 14 Participation in respect of sharesI1

an Operator permits title to shares of a class in relation to which regulation 15 applies, or in relation to which a directors' resolution passed in accordance with regulation 16 is effective, to be transferred by means of a relevant system; and

the company in question permits the holding of shares of that class in uncertificated form and the transfer of title to any such shares by means of a relevant system,