Chwilio Deddfwriaeth

The Uncertificated Securities Regulations 2001

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes to legislation:

There are currently no known outstanding effects for the The Uncertificated Securities Regulations 2001, Cross Heading: Miscellaneous. Help about Changes to Legislation

MiscellaneousU.K.

16.F1(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

(2) [F2Every register which an Operator is required to maintain by virtue of these Regulations] [F3(other than an Operator register of eligible debt securities)] which relates to securities issued by a company shall be deemed to be kept—

(a)in the case of a company registered in England and Wales, in England and Wales; or

(b)in the case of a company registered in Scotland, in Scotland.

17.—(1) An entry in a register of securities or in a record of securities relating to a person who no longer holds the securities which are the subject of the entry may be removed from the register or the record (as the case may be) after the expiration of 20 years beginning with the day on which the person ceased to hold any of those securities.U.K.

(2) Subparagraph (1) does not apply in respect of an entry in a register of members.

Commencement Information

I2Sch. 4 para. 17 in force at 26.11.2001, see reg. 1

18.  [F4Sections 1134, 1135 and 1138 of the 2006 Act] shall apply—

(a)to any register, record or index required to be kept by any person in accordance with these Regulations as they apply to any register, record or index required by the Companies Acts to be kept by a company; and

(b)to an Operator and its officers as they apply to a company and its officers.

Textual Amendments

Commencement Information

I3Sch. 4 para. 18 in force at 26.11.2001, see reg. 1

19.—(1) Such sanctions as apply to a company and its officers in the event of a default in complying with [F5section 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.U.K.

(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 [F6falling within paragraph (a)(i) of the definition of “local authority security].

F7(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;

[F8(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.]

20.  An officer of a participating issuer shall be in default in complying with, or in contravention of paragraph 2, 5, 6, 7, 13 or 15, or [F9section 1138 of the 2006 Act] as applied by paragraph 18, if, and only if, he knowingly and wilfully authorised or permitted the default or contravention.U.K.

Textual Amendments

Commencement Information

I5Sch. 4 para. 20 in force at 26.11.2001, see reg. 1

21.  An officer of an Operator shall be in default in complying with, or in contravention of, the provisions referred to in paragraph 19(1) of this Schedule, or of [F10section 1138 of the 2006 Act] as applied by paragraph 18, if, and only if, he knowingly and wilfully authorised or permitted the default or contravention.U.K.

Textual Amendments

Commencement Information

I6Sch. 4 para. 21 in force at 26.11.2001, see reg. 1

Yn ôl i’r brig

Options/Help