http://www.legislation.gov.uk/uksi/2003/1633/contents/made

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

Local government

Public funding

Council housing

Central government

King's Printer of Acts of Parliament

2015-04-30

COMPANIES

These Regulations amend the Uncertificated Securities Regulations 2001 (S.I. 2001/3755) (“the principal regulations”) to allow for the evidencing and transfer of title to “eligible debt securities” by means of a “relevant system” as defined in the principal regulations. “Eligible debt securities” principally comprise the non-material equivalents of the certificated securities known as money market instruments.

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

reg. 3(b)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(a)

art. 1

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

reg. 3(e)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(a)

art. 1

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

reg. 3(g)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(a)

art. 1

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

reg. 4(1)(b)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(a)

art. 1

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

reg. 8(1)(b)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(b)

art. 1

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

reg. 8(3)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(b)

art. 1

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

reg. 8(4)(c)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(b)

art. 1

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

reg. 14(5)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(c)

art. 1

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

reg. 14(6)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(c)

art. 1

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

Sch. 1

Pt. 3

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(d)

art. 1

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

Sch 2

para. 2(f)

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(e)

art. 7(2)

art. 1

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

Sch 2

para. 4

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(e)

art. 7(2)

(3)

art. 1

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

Sch 2

para. 17

The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004

art. 7(1)(e)

art. 1

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

Sch. 2

para. 13(b)

The Public Bodies (Abolition of British Shipbuilders) Order 2013

Sch. 2

art. 1(2)

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

Sch. 2

para. 8(3)

The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010

Sch.

para. 8(2)

art. 1(2)

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

Sch. 2

para. 8(2)(j)

The Cancellation of Contracts made in a Consumer’s Home or Place of Work etc. Regulations 2008

The Cancellation of Contracts made in a Consumer's Home or Place of Work etc. Regulations 2008

Sch. 1

para. 5

reg. 4(3)

reg. 1

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

1Citation, commencement and interpretation

2Amendment of the principal regulations

3Eligible debt securities–interpretation

4(1) In regulation 3(3)– (a) before “public” (wherever occurring), insert...

5Participation in respect of securities other than shares

6Entries on registers and records in respect of general public sector securities

7Entries on registers and records in respect of general UK Government securities

8Entries on registers and records in respect of general local authority securities

9Entries on registers and records in respect of eligible debt securities

10Effect of entries on registers

11Registration by an Operator of transfers of securities

12Requirements for approval of a person as Operator

13Keeping of registers and records of participating securities

14Eligible Treasury bills etc

15Application and modification of certain enactments

SCHEDULE 1

PART 1ELIGIBLE TREASURY BILLS

Modification of the Treasury Bills Act 1877

1For the purposes of regulation 14, and the definition of...

2In section 2– (a) before the definition of “prescribed”, insert–...

3In section 4, for the words from “in the prescribed...

4In section 5, for “of and interest on”, substitute “and...

5For section 8(2), substitute– (2) Each Treasury bill (and each...

6In section 9– (a) in subsection (1), omit “mode of...

Modification of the Treasury Bills Regulations 1968

7In regulation 1– (a) before “Treasury bills”–

8In regulation 2(1)– (a) before “Treasury bills”, insert “uncertificated units...

9For regulation 3, substitute– – (1) The terms of a Treasury bill shall include...

10In regulation 4– (a) for paragraph (1), substitute–

11In regulation 6– (a) omit paragraphs (1), (1A), (1N) and...

12Omit regulations 7 and 8.

13In regulation 9, after the definition of ““NLF bill” and...

PART 2ELIGIBLE NORTHERN IRELAND TREASURY BILLS

14For the purposes of regulation 14, and the definition of...

Modification of the Exchequer and Financial Provisions Act (Northern Ireland) 1950

15In section 11(1)(b), after “Northern Ireland Treasury Bills”, insert “(and...

16In section 40, after subsection (1), insert–

17In the First Schedule– (a) in paragraph 2, for the...

PART 3DEMATERIALISED LOAN INSTRUMENTS

18For the purposes of regulation 14, and the definition of...

Modification of Part IV of the Local Government and Housing Act 1989

19In section 43(4)– (a) for “document which, directly or by...

20In section 43(5), for “any document”, substitute “any security”.

21After section 43(5), add– (5A) No regulation under subsection (5)...

22In section 46– (a) in paragraph (a) of subsection (4),...

23In section 66(1)– (a) after paragraph (a), insert–

Modification of the Local Authorities (Borrowing) Regulations 1990

24In regulation 2– (a) in the definition of “loan instrument”–...

25In regulation 3– (a) in paragraph (2)–

26In regulation 4– (a) in paragraph (1)–

27In regulation 5– (a) in paragraph (1), for “The”, substitute...

28In regulation 6– (a) for “a” (where second occurring), substitute...

29In regulation 7– (a) for paragraphs (1) and (2), substitute–...

30After regulation 8(5), add– (6) This regulation does not apply...

31After regulation 9(12), add– (13) This regulation does not apply...

32In Schedule 1– (a) in paragraph 1–

33In Schedule 2– (a) in paragraph 1, for the definition...

SCHEDULE 2APPLICATION AND MODIFICATION OF CERTAIN ENACTMENTS

Eligible Treasury bills

1Section 5 of the National Debt Act 1889 applies in...

2A reference to Treasury bills in– (a) section 4 of...

Eligible Northern Ireland Treasury Bills

3A reference to Northern Ireland Treasury Bills in–

Dematerialised loan instruments

4A reference to a loan instrument in–

Cash ratio deposits

5In the Cash Ratio Deposits (Eligible Liabilities) Order 1998–

Certificates of deposit

6(1) In an enactment to which this paragraph applies–

Commercial paper

7A reference to commercial paper in Schedule A1 or Schedule...

Securities etc creating or acknowledging indebtedness

8(1) In a provision to which this paragraph applies, a...

Acceptance of certain instruments

9The reference to a person becoming party to an instrument...

Public offers of securities

10In regulation 3(4) of the Public Offers of Securities Regulations...

Building societies

11In the Building Societies Act 1986– (a) the reference in...

12In Part III of Schedule 2 to the Building Societies...

Bearer securities etc

13A reference to bearer securities in– (a) sections 1 and...

14A reference to securities payable to bearer in–

15A reference to bearer instruments in articles 41(1) and 42(1)...

Application and modification of other enactments

16Section 7(1) of the Trustee (Northern Ireland) Act 1958 applies...

17The reference in paragraph 6 of Schedule 1 to the...

18In any enactment, a reference to an enactment modified by...

2003 No. 1633

COMPANIES

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

Made23rd June 2003

Coming into forcein accordance with regulation 1

Whereas a draft of these Regulations has been approved by a resolution of each House of Parliament;

Now, therefore, the Treasury, in exercise of the powers conferred by section 207 of the Companies Act 19891 and now vested in them2, hereby make the following Regulations: