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The Uncertificated Securities Regulations 2001

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Changes over time for: Section 21

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There are currently no known outstanding effects for the The Uncertificated Securities Regulations 2001, Section 21. Help about Changes to Legislation

Entries on registers and records in respect of [F1general] public sector securitiesU.K.

21.—(1) In respect of every participating security which is a [F2general] public sector security the Operator shall—

(a)maintain a register, and such a register is referred to in these Regulations as an “Operator register of [F2general] public sector securities”; and

(b)keep and enter up the Operator register of [F2general] public sector securities in accordance with paragraph 12 of Schedule 4.

(2) The person specified in paragraph (3) shall—

(a)maintain a record of the entries made in an Operator register of [F2general] public sector securities; and such a record is referred to in these Regulations as a “record of uncertificated [F2general] public sector securities”; and

(b)keep and enter up that record in accordance with paragraph 13 of Schedule 4.

(3) The person referred to in paragraph (2) is [F3the Registrar of Government Stock], except where the security to which an Operator register of [F2general] public sector securities relates is a [F4general] local authority security, in which case it is—

(a)the relevant local authority; or

(b)if the local authority has appointed another person to act as registrar for the purpose of the 1974 Regulations in respect of that security, the person so appointed F5...

F6(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) Such sanctions as apply to a company and its officers in the event of a default in complying with [F7section 113 of the 2006 Act] shall apply to an Operator and his officers in the event of a default in complying with paragraph (1)(a).

(5) 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 (2)(a) in respect of a local authority security [F8falling within paragraph (a)(i) of the definition of “local authority security” in regulation 3(1)].

F9(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Commencement Information

I1Reg. 21 in force at 26.11.2001, see reg. 1

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