HC Deb 15 March 2001 vol 364 cc689-90W
Mr. Russell Brown

To ask the Chancellor of the Exchequer what plans he has to amend the law dealing with resolution of disputes regarding ownership of securities held cross-border. [154421]

Miss Melanie Johnson

We have today laid the Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2001. These Regulations specify that the law which governs the proprietary rights of a person to securities is to be the law of the state where the relevant register, account or centralised deposit system is located. This change will facilitate resolution of disputes concerning ownership of such securities.