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The Uncertificated Securities Regulations 2001

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Changes over time for: Paragraph 15

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Point in time view as at 24/06/2003.

Changes to legislation:

There are currently no known outstanding effects for the The Uncertificated Securities Regulations 2001, Paragraph 15. Help about Changes to Legislation

15.  A relevant system must—U.K.

(a)enable a system-member—

(i)to grant authority to a sponsoring system-participant to send properly authenticated dematerialised instructions on his behalf; and

(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

(b)prevent the transfer of units in excess of that limit.

Commencement Information

I1Sch. 1 para. 15 in force at 26.11.2001, see reg. 1

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