These rules distinguish a coded latent record from a funded debt instrument. Build 05 documents the cases but deliberately does not create automated legal consequences.
Proposed rule: before activation, a holder may request cancellation of a latent record under a defined authentication procedure. No principal refund arises because £0 was paid.
Proposed rule: the issuer may cancel or retire an invalid, duplicate, fraudulent, technically defective or legally ineligible latent record, with the reason permanently audit-logged.
Decision required: latent records may remain open indefinitely or expire after a stated period. Expiry must never be silently treated as repayment or default.
Decision required: determine whether a latent commitment is personal and lapses, or whether an authenticated successor may assume it. No rule is presumed in this prototype.
A funded bond would be an asset whose succession treatment must follow the final contract and applicable law. This requires identity and estate verification outside the anonymous public register.
Public lookup by personal name is prohibited by design. Production recovery would require a controlled evidence process linking the claimant to the coded record.
A reprint does not create another bond. The Bond ID, not the number of printed certificates, identifies the registered record.
The record should be capable of being administratively frozen for investigation without representing that the underlying dispute has been decided.
A latent record that never activates remains an unfunded record. It must not be represented as debt principal received, interest-bearing capital or reparations paid.