Introduction

Towards the end of 2020, while businesses were reeling from the challenges of grappling with a global pandemic, the end of the Brexit transition period and LIBOR transition, the Law Commission published a paper analysing the current law underlying intermediated securities - Intermediated securities: who owns your shares? A Scoping Paper.

The requirement for strict technical compliance with notice provisions has been extended beyond guarantees, particularly where there is some immediate and material consequence that flows from the notice being issued.