UK Statutory Instrument SI 2001/3755 United Kingdom

The Uncertificated Securities Regulations 2001

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm15 Operator8 Any Person1

Plus 4 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Financial Services Firm — also bound by 167 other Acts
Operator — also bound by 746 other Acts
Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.011 Reports by skilled persons Regulated
  • Provide report and assist skilled persons appointed by Bank of EnglandOperator
s.016 (1) This regulation applies to a class of shares if... Regulated
  • Notify shareholders after director resolution on uncertificated sharesFinancial Services Firm
s.019 Participation in respect of securities other than shares Regulated
  • Do not permit uncertificated holding or transfer of non-share securities unless conditions metFinancial Services Firm
s.021 Entries on registers and records in respect of general public sector securities Regulated
  • Maintain a register of general public sector securitiesOperator
s.022 Entries on registers and records in respect of other securities Regulated
  • Maintain a record of uncertificated corporate securities from the Operator registerFinancial Services Firm
s.023 General provisions concerning keeping registers and records Regulated
  • Do not enter trust notices on the Operator registerOperator
s.025 Rectification of registers of securities Regulated
  • Don't correct the share register without Operator or court orderFinancial Services Firm
s.026 Closing registers Regulated
  • Do not close the register of participating securities without Operator consentFinancial Services Firm
s.027 Registration by an Operator of transfers of securities Regulated
Other duties (1) — Crown / regulator
  • Operator must register securities transfers (unless prohibited)Statutory regulator
s.028 Registration by a participating issuer of transfers of securities upon conversion into certificated form Regulated
  • Register or refuse transfers of securities upon conversion to certificated form and notify the OperatorFinancial Services Firm
s.032 Conversion of securities into certificated form Regulated
  • Issue share certificates when converting electronic holdings to paperFinancial Services Firm
s.033 Conversion of securities into uncertificated form Regulated
  • Only convert securities to uncertificated form when conditions are metFinancial Services Firm
s.034 New issues in uncertificated form Regulated
  • Issuers may issue new uncertificated units only to system-membersFinancial Services Firm
s.036 Liability for forged dematerialised instructions, induced amendments to Operator registers of securities, and induced Operator-instructions Regulated
Other duties (1) — Crown / regulator
  • Operator must compensate for forged instructions and provide informationStatutory regulator
s.038 Certain formalities and requirements not to apply Regulated
  • Do not issue paper certificates for uncertificated units and provide information on requestFinancial Services Firm
s.039 Fees charged by Operators Regulated
Other duties (1) — Crown / regulator
  • Operators cannot charge issuers for maintaining the securities registerStatutory regulator
s.042 Notices to minority shareholders Regulated
  • Notify operator and update register upon receiving takeover notice for uncertificated sharesFinancial Services Firm
37 other provisions — procedural and definitional
s.001 Citation and commencement
s.002 Purposes and basic definition
s.003 Interpretation
s.004 Applications for approval
s.005 Operating conditions for relevant system
s.006 Fees charged by the Bank of England
s.007 Withdrawal of approval
s.008 Compliance orders and directions
s.009 Injunctions and restitution orders
s.010 Provision of information by Operators
s.011 Delegation of Treasury functions
s.011 Appointment of persons to carry out general investigations etc.
s.012 International obligations
s.013 Prevention of excessive regulatory provision
s.014 Participation in respect of shares
s.015 This regulation applies to a class of shares if a...
s.017 (1) A class of shares in relation to which, immediately...
s.018 Interpretation of regulations 15, 16 and 17
s.020 Entries on registers and records in respect of shares
s.024 Effect of entries on registers
s.029 Registration to be in accordance with regulations 27 and 28
s.030 Registration of linked transfers
s.031 Position of a transferee prior to entry on an issuer register of securities
s.035 Properly authenticated dematerialised instructions,
s.037 Construction of references to transfers etc.
s.040 Trusts, trustees and personal representatives etc.
s.041 Notices of meetings etc.
s.043 Irrevocable powers of attorney
s.044 Actual notice
s.045 Participating securities issued in uncertificated form
s.046 Breaches of statutory duty
s.047 Liability of officers for contraventions
s.048 Exemption from liability
s.049 Application to Northern Ireland
s.050 Transitory provisions
s.051 Minor and consequential amendments
s.052 Revocations
Schedules

Schedules

11 of 98 shown
s.sch001 A relevant system must be able to permit each participating... Regulated
  • Let participating issuers inspect their register entriesAny Person
s.sch001 An Operator’s rules and practices— (a) must bind system-members and... Regulated
  • System-issuer must facilitate transfer and cessation rights for participation changesOperator
s.sch001 An Operator’s rules and practices must require— Regulated
  • Set rules for secure dematerialised instructions and settlement bank arrangementsOperator
s.sch001 (1) A relevant system must satisfy the requirements of sub-paragraphs... Regulated
  • Ensure dematerialised instructions are authenticated, identified, and addressedOperator
s.sch004 (1) Where an Operator of a relevant system is required... Regulated
  • Maintain Operator register of general public sector securities with holder detailsOperator
s.sch004 (1) The participating issuer shall enter in a record of... Regulated
  • Maintain and reconcile record of uncertificated public sector securitiesFinancial Services Firm
s.sch004 (1) Where an Operator of a relevant system is required... Regulated
  • Enter particulars of uncertificated securities holders in the Operator registerOperator
s.sch004 (1) A participating issuer shall enter in a record of... Regulated
  • Maintain and reconcile records of uncertificated corporate securitiesFinancial Services Firm
s.sch004 (1) Every participating issuer which is a company shall enter... Regulated
  • Keep an issuer register of members with share and stock detailsFinancial Services Firm
s.sch004 (1) In relation to every participating issuer which is a... Regulated
Other duties (1) — Crown / regulator
  • Operator must maintain an electronic register of uncertificated shareholdersStatutory regulator
s.sch004 (1) Subject to subparagraph (2), a company’s issuer register of... Regulated
  • Keep issuer register and uncertificated share record available for inspection at same place and notify registrarFinancial Services Firm
87 other schedules
s.sch001 An Operator must have adequate arrangements and resources for the...
s.sch001 A relevant system must maintain adequate records of all dematerialised...
s.sch001 A relevant system must— (a) enable each system-member to obtain...
s.sch001 A relevant system must be able to establish, where there...
s.sch001 A relevant system must ensure that the Operator-system is able...
s.sch001 A relevant system must— (a) enable a system-member—
s.sch001 For the purposes of paragraph 15(a)(ii), once authority is granted...
s.sch001 Nothing in paragraph 15 or 16 shall be taken, in...
s.sch001 A relevant system must enable system-members— (a) to change the...
s.sch001 Paragraph 18 shall not apply to any wholly dematerialised security....
s.sch001 An Operator must have financial resources sufficient for the proper...
s.sch001 A relevant system must comprise procedures which provide that it...
s.sch001 (1) Subject to subparagraphs (2) to (5), a relevant system...
s.sch001 (1) Subject to subparagraph (2), a relevant system must comprise...
s.sch001 A relevant system must comprise procedures which ensure that, where...
s.sch001 A relevant system must comprise procedures which—
s.sch001 An Operator must have rules which require system-users and former...
s.sch001 (1) The Operator must make transparent and non-discriminatory rules, based...
s.sch001 An Operator must be able and willing to promote and...
s.sch001 (1) Except in the circumstances referred to in subparagraph (2),...
s.sch001 A relevant system must ensure that the Operator-system can send...
s.sch001 Before an Operator registers a transfer of title to uncertificated...
s.sch001 Before an Operator-instruction to a participating issuer to register a...
s.sch001 A relevant system must enable an Operator to comply with...
s.sch002 (1) The Bank of England must not approve a person...
s.sch002 (1) This paragraph applies where an Operator proposes to make...
s.sch002 (1) An Operator that proposes to make any regulatory provision...
s.sch002 (1) Where notice of a proposal to make regulatory provision...
s.sch002 (1) This paragraph applies where the Bank of England notifies...
s.sch002 (1) In paragraphs 2 to 5 —
s.sch003 Before— (a) refusing an application for approval as an Operator...
s.sch003 Part 9 of the 2000 Act (hearings and appeals) applies...
s.sch003 A notice under paragraph 1 shall— (a) state why the...
s.sch003 Before the end of the period for making representations, the...
s.sch003 The period for making representations is such period as is...
s.sch003 In deciding whether to ... give the direction ... the...
s.sch003 (1) When the Bank of England has decided whether to—...
s.sch003 If the Bank of England reasonably considers it necessary to...
s.sch003 If the Bank of England has, in relation to a...
s.sch003 If the Bank of England decides to give the direction,...
s.sch004 In this Schedule— “uncertificated shares” means shares title to which...
s.sch004 Where under paragraph 6(1), a company’s issuer register of members...
s.sch004 Where, under section 125 of the 2006 Act, the court...
s.sch004 (1) Every register which an Operator is required to maintain...
s.sch004 (1) An entry in a register of securities or in...
s.sch004 Sections 1134, 1135 and 1138 of the 2006 Act shall...
s.sch004 (1) Such sanctions as apply to a company and its...
s.sch004 An officer of a participating issuer shall be in default...
s.sch004 An officer of an Operator shall be in default in...
s.sch004 Section 123 of the 2006 Act shall apply to a...
s.sch004 (1) Every participating issuer which is a company shall enter...
s.sch004 (1) Every participating issuer which is a company having more...
s.sch004 Section 122 of the 2006 Act shall apply to a...
s.sch004 Sections 115 to 118 of the 2006 Act shall apply...
s.sch006 Prior to the day on which section 19 of the...
s.sch006 The definition of “securities” in regulation 3(1) shall be modified...
s.sch006 Regulation 5 shall be modified by the substitution for paragraph...
s.sch006 Regulation 7 shall be modified by— (a) the insertion in...
s.sch006 Regulation 8 shall be modified by— (a) the substitution for...
s.sch006 In regulation 9— (a) paragraph (7) shall be modified by...
s.sch006 Regulation 11(1) shall be modified to read—
s.sch006 In paragraph 5(7) of Schedule 1— (a) paragraph (a) of...
s.sch006 Schedule 2 shall be modified by— (a) the substitution for...
s.sch007 In section 3 of the National Debt Act 1870, for...
s.sch007 In subsection (4) of section 380 of the 1985 Act,...
s.sch007 In subsection (1) of section 180 of the 1986 Act,...
s.sch007 In the 1986 Act, in— (a) paragraph 16A(a) of Schedule...
s.sch007 In the Banking Act 1987, in— (a) paragraph 11B in...
s.sch007 In the 1965 Regulations— (a) in regulation 1(3), for “Subject...
s.sch007 In the 1974 Regulations— (a) in regulation 1(3)—
s.sch007 In the Exchange of Securities (General) Rules 1979—
s.sch007 In the Companies (Registers and other Records) Regulations 1985—
s.sch007 In the Stamp Duty Reserve Tax Regulations 1986, in the...
s.sch007 In the Companies (Registers and other Records) Regulations (Northern Ireland)...
s.sch007 In subsection (1) of section 2 of the National Debt...
s.sch007 In the Financial Markets and Insolvency Regulations 1996—
s.sch007 In the Stock Transfer (Addition and Substitution of Forms) Order...
s.sch007 In the Financial Services Act 1986 (Exemption) Order 1996, in...
s.sch007 In the Stamp Duty Reserve Tax (UK Depository Interests in...
s.sch007 In the Open-Ended Investment Companies Regulations 2001—
s.sch007 In section 48 of the Finance (No. 2) Act 1915—...
s.sch007 In section 67 of the Finance Act 1916—
s.sch007 In section 48 of the Finance Act 1949—
s.sch007 In section 73 of the Finance (No. 2) Act 1975—...
s.sch007 In subsection (1)(b) of section 182 of the 1985 Act,...
s.sch007 In subsection (1) of section 183 of that Act, after...
s.sch007 In section 209(9B)(b) of the 1985 Act, for “Uncertificated Securities...

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