# The Uncertificated Securities Regulations 2001, Paragraph 19

Extent: E+W+S+N.I.

(1) 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 an Operator and his officers in the event of a default in complying with paragraph 4, 12 or 14.
(2) Such sanctions as apply to the registrar, within the meaning of the 1974 Regulations, in the event of a default in complying with regulation 5 of those Regulations shall apply to a participating issuer and his officers in the event of a default in complying with paragraph 13 in respect of a local authority security falling within paragraph (a)(i) of the definition of “local authority security.
(2A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) Such sanctions as apply in the event of a default in complying with the requirement to maintain a register imposed by the relevant enactment or instrument referred to in regulation 22(1) shall apply to—
(a) a participating issuer other than a company; and
(b) a participating issuer which is a company, in relation to so much of the record of uncertificated corporate securities as does not relate to debentures,
and his officers in the event of a default in complying with paragraph 15.
(4) Subparagraphs (2) and (3) shall not apply to any of the following or its officers—
(a) the Crown;
(b) any person acting on behalf of the Crown;
(c) the Bank of England;
(d) the Registrar of Government Stock;
(e) any previous Registrar of Government Stock; or
(f) in respect of a security which immediately before it became a participating security was transferable by exempt transfer within the meaning of the Stock Transfer Act 1982, a participating issuer.

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Source: https://www.legislation.gov.uk/uksi/2001/3755/schedule/4/paragraph/19 (the official version)
Page: https://openlegislation.uk/uncertificated-securities-regulations-2001/schedule-4/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.