LawgistThe Depositories Act
9Securities in depositories to be in fungible form
(1) All securities held by a depository shall be dematerialised and shall be in a fungible form.
1 [(2) Nothing contained in sections 153, 153A, 153B, 187B, 187C and 372 of the Companies Act, 1956 (1 of 1956) shall apply to a depository in respect of securities held by it on behalf of the beneficial owners.]
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1. Subs. by Act 8 of 1997, s. 22, for sub-section (2) (w.e.f. 15-1-1997).
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
