([The Uncertificated Securities Regulations 2001, HMSO, 2004, Internet](http://www.opsi.gov.uk/si/si2001/20013755.htm))
EXP: "uncertificated", in relation to a unit of a security, means (subject to regulation 42 (11) (a)) that title to the unit is recorded on the relevant Operator register of securities, and may, by virtue of these Regulations, be transferred by means of a relevant system.
([The Uncertificated Securities Regulations 2001, HMSO, 2004, Internet](http://www.opsi.gov.uk/si/si2001/20013755.htm))