{
  "url": "https://openlegislation.uk/uncertificated-securities-regulations-2001/schedule-1/paragraph-15",
  "json_url": "https://openlegislation.uk/uncertificated-securities-regulations-2001/schedule-1/paragraph-15.json",
  "legislation": "uksi/2001/3755",
  "legislation_title": "The Uncertificated Securities Regulations 2001",
  "legislation_url": "https://openlegislation.uk/uncertificated-securities-regulations-2001",
  "path": "schedule/1/paragraph/15",
  "kind": "paragraph",
  "number": "15",
  "heading": null,
  "text": "A relevant system must—\n(a) enable a system-member—\n(i) to grant authority to a sponsoring system-participant to send properly authenticated dematerialised instructions on his behalf; and\n(ii) to limit such authority by reference to the net value of the units of the securities to be transferred in any one day; and\n(b) prevent the transfer of units in excess of that limit.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 para. 15 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/schedule/1/paragraph/15",
    "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."
}