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13.—(1) The Treasury must from time to time—
(a)carry out a review of the regulatory provisions contained in regulations 3, 5, and 6 of and paragraphs 5 and 25 of Schedule 1 and paragraphs 1, 2, 5, 6, 9 and 10 of Schedule 3 to the Uncertificated Securities Regulations 2001; and
(b)publish a report setting out the conclusions of the review.
(2) The first report under this regulation must be published before the end of the period of five years beginning with the day on which these Regulations come into force.
(3) Subsequent reports must be published at intervals not exceeding five years.
(4) Section 30(3) of the Small Business, Enterprise and Employment Act 2015 M1 requires that a report published under this regulation must, so far as is reasonable, have regard to how the obligations under Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23rd July 2014 on improving securities settlement in the European Union and on central securities depositories is implemented in other member States.
(5) In this regulation, “regulatory provisions” has the same meaning as in sections 28 to 32 of the Small Business, Enterprise and Employment Act 2015 (see section 32 of that Act).
Commencement Information
I1Reg. 13 in force at 27.3.2019, see reg. 1(2)
Marginal Citations
M12015 c.26. Section 30(3) was amended by the Enterprise Act 2016 (c.12), section 19.
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