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The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003
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21. After section 43(5), add–
“(5A) No regulation under subsection (5) applies in relation to uncertificated units of a loan instrument to the extent that it is inconsistent with–
(a)the holding of such units in uncertificated form;
(b)the transfer of title to such units by means of a relevant system; or
(c)the 2001 Regulations.”.
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