Stock Transfer (Gilt-edged Securities) (CGO Service) (Amendment) Regulations 1999
| Jurisdiction | UK Non-devolved |
| Citation | SI 1999/1208 |
| Year | 1999 |
1999 No. 1208
SECURITIES
The Stock Transfer (Gilt-edged Securities) (CGO Service) (Amendment) Regulations 1999
Made 21th April 1999
Laid before Parliament 22th April 1999
Coming into force in accordance with regulation 1
The Treasury, in exercise of the powers conferred on them by section 3(1) and (2) of the Stock Transfer Act 19821, and of all other powers enabling them in that behalf, hereby make the following Regulations:–
Title, commencement and interpretation
1.—(1) These Regulations may be cited as the Stock Transfer (Gilt-edged Securities) (CGO Service) (Amendment) Regulations 1999 and, subject to the following provisions of this Regulation, shall come into force on 24th May 1999.
(2) If notice is given that the responsibility for operating the CGO Service is not to be transferred from the Bank of England to CRESTCo Limited on or before 24th May 1999 nothing in these Regulations shall have effect until such day, of which prior notice is given, on which that responsibility is so transferred.
(3) For the purposes of paragraph (2) above, notice is given by the Bank of England and CRESTCo Limited by a notice published in the London, Edinburgh and Belfast Gazettes.
(4) In these Regulations:–
“the CGO Service” has the same meaning as in the principal Regulations; and
“the principal Regulations” means the Stock Transfer (Gilt-edged Securities) (CGO Service) Regulations 19852.
Amendment of principal Regulations
2. Regulation 2 of the principal Regulations (interpretation) shall be amended–
(a) in the definition of “the CGO” by substituting for the words “the Central Gilts Office of the Bank” the words “CRESTCo Limited”;
(b) in the definition of “the CGO Rules” by substituting for the words “the Bank” the word “or”; and
(c) in the definition of “CGO Service member” by substituting for the words “the Bank” the words “CRESTCo Limited (which is now responsible for operating the CGO Service)”.
3. For regulation 3 of the principal Regulations (representation by the Bank), there shall be substituted the following–
“Representation by the CGO
3. Where the CGO indicates through the CGO Service or on an instrument of transfer in writing that securities are, or have been...
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