LawgistThe Depositories Act
10Rights of depositories and beneficial owner
(1) Notwithstanding anything contained in any other law for the time being in force, a depository shall be deemed to be the registered owner for the purposes of effecting transfer of ownership of security on behalf of a beneficial owner.
(2) Save as otherwise provided in sub-section (1), the depository as a registered owner shall not have any voting rights or any other rights in respect of securities held by it.
(3) The beneficial owner shall be entitled to all the rights and benefits and be subjected to all the liabilities in respect of his securities held by a depository.
Download our fully-offline, High speed android app.- Click here
RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS AND BENEFICIAL OWNERS
- 4 Agreement between depository and participant
- 5 Services of depository
- 6 Surrender of certificate of security
- 7 Registration of transfer of securities with depository
- 8 Options to receive security certificate or hold securities with depository
- 9 Securities in depositories to be in fungible form
- 10 Rights of depositories and beneficial owner
- 11 Register of beneficial owner
- 12 Pledge or hypothecation of securities held in a depository
- 13 Furnishing of information and records by depository and issuer
- 14 Option to opt out in respect of any security
- 15 Act 18 of 1891 to apply to depositories
- 16 Depositories to indemnify loss in certain cases
- 17 Rights and obligations of depositories, etc
