LawgistThe Depositories Act
8Options to receive security certificate or hold securities with depository
(1) Every person subscribing to securities offered by an issuer shall have the option either to receive the security certificates or hold securities with a depository.
(2) Where a person opts to hold a security with a depository, the issuer shall intimate such depository the details of allotment of the security, and on receipt of such information the depository shall enter in its records the name of the allottee as the beneficial owner of that security.
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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
