{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-2001/regulation-20",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-2001/regulation-20.json",
  "legislation": "uksi/2001/3755",
  "legislation_title": "The Uncertificated Securities Regulations 2001",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-2001",
  "path": "regulation/20",
  "kind": "regulation",
  "number": "20",
  "heading": "Entries on registers and records in respect of shares",
  "text": "(1) In respect of every company which is a participating issuer, there shall be—\n(a) a register maintained by the participating issuer, and such a register is referred to in these Regulations as an “issuer register of members”; and\n(b) a register maintained by the Operator, and such a register is referred to in these Regulations as an “Operator register of members”.\n(2) A participating issuer which is a company shall keep and enter up the issuer register of members in accordance with paragraph 2 of Schedule 4.\n(3) In respect of every company which is a participating issuer, the Operator shall keep and enter up the Operator register of members in accordance with paragraph 4 of Schedule 4.\n(4) References in any enactment or instrument to a company’s register of members shall, unless the context otherwise requires, be construed in relation to a company which is a participating issuer as referring to the company’s issuer register of members and Operator register of members.\n(5) Paragraph (4) does not apply in relation to a company’s issuer register of members to the extent that any of the particulars entered in that register in accordance with paragraph 2(1) of Schedule 4 are inconsistent with the company’s Operator register of members.\n(6) A participating issuer which is a company shall—\n(a) maintain a record of the entries made in its Operator register of members; and such a record is referred to in these Regulations as a “record of uncertificated shares”; and\n(b) keep and enter up that record in accordance with paragraph 5 of Schedule 4.\n(7) Such sanctions as apply to a company and its officers in the event of a default in complying with section 113 of the 2006 Act shall apply to—\n(a) a company which is a participating issuer and its officers in the event of a default in complying with paragraph (1)(a) or (6)(a), or\n(b) an Operator and his officers in the event of a default in complying with paragraph (1)(b).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 20(7) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments) (Uncertificated Securities) Order 2009 (S.I. 2009/1889), regs. 1(2), 2(5)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 20 in force at 26.11.2001, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/3755/regulation/20",
    "retrieved_at": "2026-10-29T07:21:41.154685+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."
}