The Uncertificated Securities Regulations 1992

Notice to the Operator and controllers

85.—(1) A company shall deliver to the Operator a copy of any relevant resolution under regulation 84(2)(b) within 2 working days of its being passed.

(2) The Operator shall as soon as reasonably practicable select a date to be the last date on which transfers of entitlements to units of the security in question in uncertificated form under the system shall be effective and by which any instructions received under regulation 33 must have been acted upon, being a date not less than 5 working days before the date specified in the resolution authorising the conversion. Forthwith upon selecting such date the Operator shall inform all commercial and alter-native company controllers, together with the company or any person appointed as agent for primary company controllers under regulation 11, of the date selected. It shall also publish the date in such manner as may reasonably be expected, in the opinion of the Operator, to cause it to come to the attention of any person likely to be affected by the conversion.

(3) A company shall also deliver a copy of such a conversion resolution to each primary company controller with respect to the security concerned within 5 working days of the passing of the resolution. Upon its being notified of the date selected by the Operator under the last paragraph, the company shall notify all the primary company controllers (with respect to the security) of that date.