15. In the 1974 Regulations—U.K.
(a)in regulation 1(3)—
(i)for ““the 1995 Regulations” means the Uncertificated Securities Regulations 1995 as amended from time to time;” there shall be substituted ““the 2001 Regulations” means the Uncertificated Securities Regulations 2001 as amended from time to time;”; and
(ii)the definitions of “the CGO Service”; “CGO Service member”; “the CGO Service Regulations”; and “exempt transfer” shall be omitted;
(b)in regulation 6(1), for “Subject to regulation 6A below the” there shall be substituted “The”;
(c)in regulation 7—
(i)in paragraph (1)(a), for “paragraph (5)” there shall be substituted “paragraph (1A)”;
(ii)after paragraph (1) there shall be inserted as a new paragraph—
“(1A) Units of stock, or of bonds, which are recorded on a register kept by the Operator of a relevant system under the 2001 Regulations shall be transferable in no other manner than by means of that system in accordance with those Regulations.”; and
(iii)in paragraph (3), there shall be omitted “and any record of a transfer effected through the medium of the CGO Service,” and “or, as the case may be, the exempt transfer”; and
(d)in regulation 13(2)—
(i)for “Subject (in the case of stock or a bond which is a participating security) to any provision made by or under the 1995 Regulations, the” there shall be substituted “The”; and
(ii)there shall be omitted the words from “or, in the case of an exempt transfer” to the end.
Commencement Information
I1Sch. 7 para. 15 in force at 26.11.2001, see reg. 1