The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

Uncertificated Securities Regulations 2001

6.—(1) In regulation 3 of the 2001 Regulations (interpretation)—

(a) the definitions of “the 1989 Act”, “the 1990 Regulations” and “dematerialised loan instrument” shall be omitted;

(b) in the definition of “local authority”, for paragraph (b), there shall be substituted—

“(b) in relation to a security referred to in paragraph (b) of the definition of “local authority security”, has the same meaning as in section 23 of the Local Government Act 2003 (“local authority”);”;

(c) in the definition of “local authority security”, sub-paragraph (ii) of paragraph (a) shall be revoked; and

(d) in paragraph (3)(a)—

(i) at the end of paragraph (ii), “; or” shall be omitted; and

(ii) paragraph (iii) shall be revoked.

(2) In regulation 21 of the 2001 Regulations (entries on registers and records in respect of general public sector securities)—

(a) in paragraph (3)—

(i) at the end of sub-paragraph (b), “; or” shall be omitted; and

(ii) sub-paragraph (c) shall be revoked;

and

(b) paragraph (6) shall be revoked.

(3) In paragraph 19 of Schedule 4 to the 2001 Regulations (keeping of registers and records of participating securities), sub-paragraph (2A) shall be revoked.