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The Uncertificated Securities Regulations 2001
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Rectification of registers of securitiesU.K.
25.—(1) Unless the circumstances described in paragraph (2) apply, a participating issuer shall not rectify an issuer register of securities if such rectification would also require the rectification of an Operator register of securities.
(2) The circumstances referred to in paragraph (1) are that the rectification of an issuer register of securities is effected—
(a)with the consent of the Operator; or
(b)by order of a court in the United Kingdom.
(3) A participating issuer who rectifies an issuer register of securities in order to give effect to an order of a court in the United Kingdom shall immediately give the Operator written notification of the change to the entry, if any rectification of the Operator register of securities may also be required (unless the change to the issuer register is made in response to an Operator-instruction).
(4) An Operator who rectifies an Operator register of securities shall immediately—
(a)generate an Operator-instruction to inform the relevant participating issuer of the change to the entry (unless the change is made in response to an issuer-instruction); and
(b)generate an Operator-instruction to inform the system-members concerned of the change to the entry.
Commencement Information
I1Reg. 25 in force at 26.11.2001, see reg. 1
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