COMPANIES Title, commencement and interpretation 1 1 These Regulations may be cited as the Local Authority (Stocks and Bonds) (Amendment) Regulations 2000 and shall come into force on 1st July 2000. 2 In these Regulations “the Principal Regulations ” means the Local Authority (Stocks and Bonds) Regulations 1974 . Amendment of Principal Regulations 2 1 The Principal Regulations are amended by paragraphs (2) to (12) of this Regulation 2 In Regulation 1, insert— a before the definition of “bonds” as a further definition— “the 1995 Regulations ” means “the Uncertificated Securities Regulations 1995 as amended from time to time.” and b after paragraph (3) as paragraph (3A)— 3A In these regulations “Operator”, “Operator-instruction”, “participating security”, “relevant system” and “uncertificated unit of a security” have the meanings given in the 1995 Regulations 3 In Regulation 3(2), for “the holder agree” substitute “the holders agree in respect of all of the bonds of a particular description” 4 In Regulation 5(3), after “evidence” insert “and in Scotland sufficient evidence unless the contrary is shown.” 5 In Regulation 6, insert as paragraph (6)— 6 This regulation is subject (in the case of stock or a bond which is a participating security) to any provision made by or under the 1995 Regulations 6 In Regulation 7, insert— a in paragraph (1)(a) at the beginning “subject to paragraph (5) of this regulation.”. b in paragraph (1)(b)— i at the beginning “subject to paragraph (4) of this regulation.”. and ii after “such authority.”. “in accordance with the 1995 Regulations by means of a relevant system operated by an Operator or”, and c as paragraphs (4) and (5)— 4 No transfer of stock or a bond may be effected by exempt transfer if such stock or bond is a participating security 5 No transfer may be effected by instrument in writing of stock or a bond which is an uncertificated unit of a security 7 In Regulation 8 insert as paragraph (3)— 3 This regulation is subject (in the case of stock or a bond which is a participating security) to any provision made by or under the 1995 Regulations 8 In regulation 9 insert as paragraph (4)— 4 Nothing in this regulation shall permit or require the registrar to register a transfer of stock or a bond which is an uncertificated unit of a security and which is entered in a register in the name of a deceased person, unless the registrar is required to do so by an Operator-instruction, an order of a court in the United Kingdom or by or under any enactment or instrument 9 In Regulation 10 insert as paragraph (3)— 3 This regulation shall not apply to stock or a bond which is a participating security 10 In Regulation 13(2), at the beginning for “The” substitute “Subject (in the case of stock or a bond which is a participating security) to any provision made by or under the 1995 Regulations the” 11 In Regulation 14 insert as paragraph (4)— 4 Nothing in this regulation shall permit or require notice of any trust to be entered on any register or be receivable by the registrar in relation to stock or a bond which is an uncertificated unit of a security 12 In Regulations 16 and 21, after the last paragraph insert as a paragraph respectively numbered (4) and (3)— This regulation is subject (in the case of stock or a bond which is a participating security) to any provision made by or under the 1995 Regulations Jim Dowd David Jamieson Two of the Lords Commissioners of Her Majesty’s Treasury 26th June 2000