xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

SCHEDULE 1U.K.REQUIREMENTS FOR APPROVAL OF A PERSON AS OPERATOR

System capabilitiesU.K.

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