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

Made: 10th December 1990

Laid before Parliament: 17th December 1990

Coming into force: 7th January 1991

Now, therefore, the Treasury, in exercise of the powers conferred on them by section 1(1) and (4) of the Stock Transfer Act 1982, and of all other powers enabling them in that behalf, hereby make the following Regulations:—

Citation and Commencement

1

These Regulations may be cited as the Stock Transfer (Gilt-edged Securities) (Exempt Transfer) (No. 2) Regulations 1990 and shall come into force on 7th January 1991.

Interpretation

2

In these Regulations:—

• “the Bank” means the Bank of England;

• “the CGO” means the Central Gilts Office of the Bank;

• “the CGO Service” means the computer-based system established by the Bank and The International Stock Exchange to facilitate the transfer of gilt-edged securities; and “CGO Service member” means a person who is entitled under a contract with the Bank to use the CGO Service.

Exempt Transfers

3

Securities on registers kept by the Bank which have been issued in the United Kingdom, or which may from time to time be issued in the United Kingdom, by the Government of Barbados may be transferred by a CGO Service member through the medium of the CGO Service.

Signed

John Major — Norman Lamont — Two of the Lords Commissioners of Her Majesty’s Treasury — 10th December 1990

Explanatory note

(This note is not part of the Regulations)

These Regulations specify further gilt-edged securities, namely securities which are on registers kept by the Bank of England and issued in the United Kingdom by the Government of Barbados, which may be transferred by CGO Service members through the CGO Service. Other securities which may be so transferred are specified in the Stock Transfer (Gilt-edged Securities) (Exempt Transfer) Regulations 1985 (S.I. 1985/1145, amended by S.I. 1990/1027), 1987 (S.I. 1987/1294), 1988 (S.I. 1988/232), 1989 (S.I. 1989/880) and 1990 (S.I. 1990/1211). Such transfers will be effective under section 1(2) of the Stock Transfer Act 1982 without the need for an instrument in writing.

Footnotes

[^f00001]: 1982 c. 41, to which there are amendments not relevant to these Regulations.