OpenLegislation

Paragraph 13 I1

United Kingdom

(1)

The participating issuer shall enter in a record of uncertificated F1general public sector securities the same particulars, so far as is practicable, as are required by paragraph 12(1) to be entered in the relevant Operator register of general public sector securities.

(2)

In respect of every participating security which is a F2general UK Government security, the record of uncertificated general public sector securities shall be kept F3by the Registrar of Government Stock.

(3)

The participating issuer shall, unless it is impracticable to do so by virtue of circumstances beyond his control, ensure that the record of uncertificated general public sector securities is regularly reconciled with the Operator register of general public sector securities.

(4)

Provided that he has complied with subparagraph (3), a participating issuer shall not be liable in respect of any act or thing done or omitted to be done by him or on his behalf in reliance upon the assumption that the particulars entered in any record of uncertificated general public sector securities which he is required to keep by these Regulations accord with the particulars entered in the Operator register of general public sector securities to which the record relates.

(5)

The provisions of the Bankers' Books Evidence Act 1879f1 shall apply for the purpose of proving any entry in the record of uncertificated general public sector securities as if the participating issuer were a bank and a banker within the meaning of that Act, and as if such entry in the record, or, where the information recorded therein is not in readable form and is later transcribed into readable form, the transcribed version of such entry, were an entry in a banker’s book.

Annotations

Textual amendments

F1

Word in Sch. 4 para. 13 inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 6(5)(d)

F2

Word in Sch. 4 paras. 12(2), 13(2) inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 7

F3

Words in Sch. 4 para. 13(2) substituted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. para. 29(6)(b) (with art. 3, Sch. para. 1)

Commencement

I1

Sch. 4 para. 13 in force at 26.11.2001, see reg. 1

Footnotes

f1

42 & 43 Vict c. 11.

Notes on Records of uncertificated general public sector securities

Textual amendments

F1

Word in Sch. 4 para. 13 cross-heading inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 6(5)(c)