The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003

Registration by an Operator of transfers of securities

11.  In regulation 27–

(a) in paragraph (7), for “Immediately upon”, substitute, “Subject to paragraph (7A), immediately upon”;

(b) after paragraph (7), insert–

“(7A) Paragraph (7) does not apply in relation to units of an eligible debt security.”.