Uncertificated Securities Regulations 20016

1

In regulation 3 of the 2001 Regulations (interpretation)—

a

the definitions of “the 1989 Act”, “the 1990 Regulations” and “dematerialised loan instrument” shall be omitted;

b

in the definition of “local authority”, for paragraph (b), there shall be substituted—

b

in relation to a security referred to in paragraph (b) of the definition of “local authority security”, has the same meaning as in section 23 of the Local Government Act 2003 (“local authority”);

c

in the definition of “local authority security”, sub-paragraph (ii) of paragraph (a) shall be revoked; and

d

in paragraph (3)(a)—

i

at the end of paragraph (ii), “; or” shall be omitted; and

ii

paragraph (iii) shall be revoked.

2

In regulation 21 of the 2001 Regulations (entries on registers and records in respect of general public sector securities)—

a

in paragraph (3)—

i

at the end of sub-paragraph (b), “; or” shall be omitted; and

ii

sub-paragraph (c) shall be revoked;

and

b

paragraph (6) shall be revoked.

3

In paragraph 19 of Schedule 4 to the 2001 Regulations (keeping of registers and records of participating securities), sub-paragraph (2A) shall be revoked.