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The Uncertificated Securities Regulations 2001
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Exemption from liability
48. Regulations 21(5), 28(9), 32(9) and (10), and 33(11) shall not apply to any of the following or its officers—
(a)the Crown;
(b)any person acting on behalf of the Crown;
(c)the Bank of England; or
(d)in respect of a security which immediately before it became a participating security was transferable by exempt transfer within the meaning of the Stock Transfer Act 1982(1), a participating issuer.
(1)
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