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

6.  In section 9–

(a) in subsection (1), omit “mode of payment,”;

(b) omit subsections (2) and (4);

(c) in subsection (3), omit the words from “, by the use” to “otherwise,”;

(d) at the end, add–

• “No regulation under this Act applies in relation to uncertificated units of a Treasury bill to the extent that it is inconsistent with–

  (a)

  the holding of such units in uncertificated form;

  (b)

  the transfer of title to such units by means of a relevant system; or

  (c)

  the 2001 Regulations.”.