The Uncertificated Securities Regulations 2001

1.  Before—U.K.

(a)refusing an application for approval as an Operator made under regulation 4 (whether or not pursuant to paragraph 1(1) of Schedule 2);

(b)withdrawing an Operator’s approval under regulation 7(2);

(c)giving a direction under regulation 8;

(d)exercising any power conferred by paragraph 1(3) of Schedule 2;

(e)exercising the power to refuse leave under paragraph 2(2) of Schedule 2; or

(f)giving a direction under paragraph 2(4) of Schedule 2, the Treasury shall—

(i)give written notice of their intention to do so to the Operator;

(ii)take such steps as they consider reasonably practicable to bring the notice to the attention of system-users; and

(iii)publish the notice in such manner as they think appropriate for bringing it to the attention of other persons who are, in their opinion, likely to be affected.

Commencement Information

I1Sch. 3 para. 1 in force at 26.11.2001, see reg. 1