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The Uncertificated Securities Regulations 2001
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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
F1Word in reg. 21 heading inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 6(1)
F2Word in reg. 21(1)-(3) inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 6(2)
F3Words in reg. 21(3) substituted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. para. 29(3) (with art. 3, Sch. para. 1)
F4Word in reg. 21(3) inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 8(1)(a)
F5Word in reg. 21(3)(b) omitted (1.10.2004) by virtue of The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004 (S.I. 2004/2044), arts. 1, 6(2)(a)(i)
F6Reg. 21(3)(c) revoked (1.10.2004) by The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004 (S.I. 2004/2044), arts. 1, 6(2)(a)(ii)
F7Words in reg. 21(4) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments) (Uncertificated Securities) Order 2009 (S.I. 2009/1889), regs. 1(2), 2(6)
F8Words in reg. 21(5) inserted (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1(1), 8(2)
F9Reg. 21(6) revoked (1.10.2004) by The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004 (S.I. 2004/2044), arts. 1, 6(2)(b)
Commencement Information
I1Reg. 21 in force at 26.11.2001, see reg. 1
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