(1) In respect of every participating security which is a general public sector security the Operator shall -
(a) maintain a register, and such a register is referred to in these Regulations as an "Operator register of general public sector securities"; and
(b) keep and enter up the Operator register of general public sector securities in accordance with paragraph 12 of Schedule 4.
(2) The person specified in paragraph (3) shall -
(a) maintain a record of the entries made in an Operator register of general public sector securities; and such a record is referred to in these Regulations as a "record of uncertificated general public sector securities"; and
(b) keep and enter up that record in accordance with paragraph 13 of Schedule 4.
(3) The person referred to in paragraph (2) is the Registrar of Government Stock, except where the security to which an Operator register of general public sector securities relates is a general local authority security, in which case it is -
(a) the rele
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