This is the original version (as it was originally made).
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.
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