SCHEDULE 1
PART 3DEMATERIALISED LOAN INSTRUMENTS
Modification of the Local Authorities (Borrowing) Regulations 1990
33
In Schedule 2–
a
in paragraph 1, for the definition of “relevant security”, substitute–
“relevant security” means units of a loan instrument, the issue of which amounts to the issue of sterling commercial paper or a sterling medium term note in accordance with regulation 7 in a case to which this Schedule applies.
b
omit paragraph 2(o).