The Uncertificated Securities Regulations 2001

Entries on registers and records in respect of [F1 general] public sector securities U.K.

21.—(1) In respect of every participating security which is a [F2 general] 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 [F2 general] public sector securities”; and

(b) keep and enter up the Operator register of [F2 general] 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 [F2 general] public sector securities; and such a record is referred to in these Regulations as a “record of uncertificated [F2 general] 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 [F3 the Registrar of Government Stock], except where the security to which an Operator register of [F2 general] public sector securities relates is a [F4 general] 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 [F7 section 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 [F8 falling within paragraph (a)(i) of the definition of “local authority security” in regulation 3(1)].

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

Textual Amendments

F1 Word 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)

F2 Word 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)

F3 Words 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)

F4 Word 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)

F5 Word 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)

F6 Reg. 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)

F7 Words 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)

F8 Words 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)

F9 Reg. 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

I1 Reg. 21 in force at 26.11.2001, see reg. 1