(1) Provision may be made by regulations for enabling title to securities to be evidenced and transferred without a written instrument.
(2) The regulations may make provision—
(a) for procedures for recording and transferring title to securities, and
(b) for the regulation of those procedures and the persons responsible for or involved in their operation.
(3) The regulations must contain such safeguards as appear to the authority making the regulations appropriate for the protection of investors and for ensuring that competition is not restricted, distorted or prevented.
(4) The regulations may, for the
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