The Uncertificated Securities Regulations 2001

10.  Where under paragraph 6(1)(b), a company’s issuer register of members and record of uncertificated shares is kept at the office of some person other than the company, and by reason of any default of his the company fails to comply with—

• paragraph 6(2) (record of uncertificated shares to be kept with issuer register of members);

• paragraph 6(3) (notice to registrar);

• paragraph 7(3) (index to be kept with issuer register of members and record of uncertificated shares); or

• section 356 of the 1985 Act (inspection),

or with any requirement of the 1985 Act as to the production of the register of members or any part thereof, that other person is liable to the same penalties as if he were an officer of the company who was in default, and the power of the court under section 356(6) of the 1985 Act extends to the making of orders against that other and his officers and servants.