PART II SPECIFIED ACTIVITIES

Chapter IXSending Dematerialised Instructions

The activities

Sending dematerialised instructions45

1

Sending, on behalf of another person, dematerialised instructions relating to a security F4or a contractually based investment is a specified kind of activity, where those instructions are sent by means of a relevant system F6within the meaning of the 2001 Regulations.

2

Causing dematerialised instructions relating to a security F2or a contractually based investment to be sent F1on behalf of another person by means of such a system is also a specified kind of activity where the person causing them to be sent is a system-participant.

3

In this Chapter—

F5a

“the 2001 Regulations” means the Uncertificated Securities Regulations 2001;

b

“dematerialised instruction", F7..., “settlement bank" and “system-participant" have the meaning given by regulation 3 of the F32001 Regulations.