The Uncertificated Securities Regulations 2001

8.  Before an Operator-instruction to a participating issuer to register a transfer of title to uncertificated units of a security is generated, a relevant system must be able to establish that the transferor has title to such number of units of the security as is in aggregate at least equal to the number to be transferred.U.K.

Commencement Information

I1Sch. 1 para. 8 in force at 26.11.2001, see reg. 1