The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) (Amendment) Regulations 1999

• Citation: S.I. 1999/1210
• Sections: 2

Section 1 Title and commencement

(1) These Regulations may be cited as the Stock Transfer (Gilt-edged Securities) (Exempt Transfer) (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 this Regulation, “the CGO Service” means the computer-based system established by the Bank of England and the Stock Exchange to facilitate the transfer of gilt-edged securities.

Section 2 Amendment of principal Regulations

(1) Regulation 2 (interpretation) of each of the Regulations specified in paragraph (2) below shall be amended–

(a) by omitting the definition of “the CGO”; and

(b) 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)”.

(2) The Regulations are–

(a) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1985 ;

(b) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1987 ;

(c) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1988 ;

(d) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1989 ;

(e) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1990 ;

(f) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) ( No. 2) Regulations 1990 ; and

(g) The Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1991 .