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United Kingdom Statutory Instruments
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URL: http://www.bailii.org/uk/legis/num_reg/2001/20011349.html

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STATUTORY INSTRUMENTS

2001 No. 1349

FINANCIAL SERVICES

The Financial Markets and Insolvency (Settlement Finality) (Revocation) Regulations 2001

  Made 4th April 2001 
  Laid before Parliament 4th April 2001 
  Coming into force 5th April 2001 

The Treasury, being a government department designated[1] for the purposes of section 2(2) of the European Communities Act 1972[2] in relation to measures relating to securities and rights in securities, in exercise of the powers conferred by that section, hereby make the following Regulations - 

     1. These Regulations may be cited as the Financial Markets and Insolvency (Settlement Finality) (Revocation) Regulations 2001 and shall come into force on 5th April 2001.

     2. The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2001[3] are hereby revoked.


Clive Betts

Greg Pope
Two of the Lords Commissioners of Her Majesty's Treasury

4th April 2001


EXPLANATORY NOTE

(This note is not part of the Regulations)


The Regulations revoke the Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2001 (S.I. 2001/997) ("the Amendment Regulations") which specified the law governing the proprietary rights of a person in relation to securities, where the entitlement of that person to the securities was recorded in a register, account or centralised deposit system. The Amendment Regulations adjusted the implementation of Directive 98/26/EC of the European Parliament and of the Council of 19th May 1998 on settlement finality in payment systems and securities settlement systems (OJ L166, 11.6.98, p.45).

Notes:

 [1] S.I. 2000/3057.back

[2] 1972 c. 68.back

[3] S.I. 2001/997.back


ISBN 0 11 029467 X


 © Crown copyright 2001

Prepared 18 May 2001

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URL: http://www.bailii.org/uk/legis/num_reg/2001/20011349.html