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The Exchange of Securities (General) (Amendment) Rules 1999
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- 1999 No. 1207
- Explanatory Note
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Explanatory Note
(This note is not part of the Rules)
These Rules further amend the Exchange of Securities (General) Rules 1979. Rule 2 amends the definition of “CGO Service member” to reflect the transfer of the responsibility for operating the CGO Service from the Bank of England to CRESTCo Limited. This is intended to occur on a contractual basis on 24th May 1999 but, if notice is given in the London, Edinburgh and Belfast Gazettes that the transfer of responsibility will not occur until a later date, the commencement of Rule 2 is postponed until the day on which the responsibility is transferred (which will be specified in either the original notice or a subsequent notice published in the same Gazettes prior to the specified day).
Rule 3 corrects a cross-reference which was incorrectly inserted by the Exchange of Securities (General) (Amendment) Rules 1998.
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