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Home Bare Acts Phrase: depositoryDepositories Act, 1996 (22 of 1996) Chapter III
Title: Rights and Obligations of Depositories, Participants Issuers and Beneficial Owners
State: Central
Year: 1996
..... Section 11 - Register of beneficial owner Every depository shall maintain a register and an index of beneficial owners in the manner provided in section 150, section 151 and section 152 of the Companies Act, 1956 (1 of 1956). Section 12 - Pledge or hypothecation of securities held in a depository (1) Subject to such regulations and bye-laws, as may be made in this behalf, a beneficial owner may with the previous approval of the depository create a pledge or hypothecation in respect of a security owned by him through a depository. (2) Every beneficial owner shall give intimation of such pledge or hypothecation to the depository and such depository shall thereupon make entries in its records accordingly. (3) Any entry in the records of a depository under sub-section (2) shall be evidence of a pledge or hypothecation. Section 13 - Furnishing of information and records by depository and issuer (1) Every depository shall furnish to the issuer information about the transfer of securities in the name of beneficial owners at such intervals and in such manner as may be specified by the bye-laws. (2) Every issuer shall make available to the depository copies of the.....
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Complete Act
Title: Depositories Act, 1996 (22 of 1996)
State: Central
Year: 1996
.....19 of the Act Section19G - Penalty for contravention where no separate penalty has been provided Section19H - Power to adjudicate Section19I - Factors to be taken into account by adjudicating officer Section19J - Crediting sums realised by way of penalties to Consolidated Fund of India Chapter V Section20 - Offences Section21 - Offences by companies Chapter VI Section22 - Cognizance of offences by courts Section22A - Composition of certain offences Section22B - Power to grant immunity Section23 - Appeals Section23A - Appeal to Securities Appellate Tribunal Section23B - Procedure and powers of Securities Appellate Tribunal Section23C - Right to legal representation Section23D - Limitation Section23E - Civil court not to have jurisdiction Section23F - Appeal to Supreme Court Section24 - Power of Central Government to make rules Section25 - Power of Board to make regulations Section26 - Power of depositories to make bye-laws Section27 - Rules and regulations to be laid before Parliament Section28 - Application of other laws not barred Section29 - Removal of difficulties Section30 - Amendments to certain enactments Section31 - Repeal and Saving Schedule1 -.....
List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 26
Title: Power of Depositories to Make Bye-laws
State: Central
Year: 1996
.....committing breach of the regulations and provisions for suspension and expulsion of participants from the depository and cancellation of agreements entered with the depository; (p) the internal control standards including procedure for auditing, reviewing and monitoring. (3) Where the Board considers it expedient so to do, it may, by order in writing, direct a depository to make any bye-laws or to amend or revoke any bye-laws already made within such period as it may specify in this behalf. (4) If the depository fails or neglects to comply with such order within the specified period, the Board may make the bye-laws or amend or revoke the bye-laws made either in the form specified in the order or with such modifications thereof as the Board thinks fit.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 12
Title: Pledge or Hypothecation of Securities Held in a Depository
State: Central
Year: 1996
(1) Subject to such regulations and bye-laws, as may be made in this behalf, a beneficial owner may with the previous approval of the depository create a pledge or hypothecation in respect of a security owned by him through a depository. (2) Every beneficial owner shall give intimation of such pledge or hypothecation to the depository and such depository shall thereupon make entries in its records accordingly. (3) Any entry in the records of a depository under sub-section (2) shall be evidence of a pledge or hypothecation.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 3
Title: Certificate of Commencement of Business by Depositories
State: Central
Year: 1996
(1) No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board. (2) A certificate granted under sub-section (1) shall be in such form as may be specified by the regulations. (3) The Board shall not grant a certificate under sub-section (1) unless it is satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions: Provided that no certificate shall be refused under this section unless the depository concerned has been given a reasonable opportunity of being heard.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 8
Title: Options to Receive Security Certificate or Hold Securities with Depository
State: Central
Year: 1996
(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.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 16
Title: Depositories to Indemnify Loss in Certain Cases
State: Central
Year: 1996
(1) Without prejudice to the provisions of any other law for the time being in force, any loss caused to the beneficial owner due to the negligence of the depository or the participant, the depository shall indemnify such beneficial owner. (2) Where the loss due to the negligence of the participant under sub-section (1) is indemnified by the depository, the depository shall have the right to recover the same from such participant.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 10
Title: Rights of Depositories and Beneficial Owner
State: Central
Year: 1996
(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.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 13
Title: Furnishing of Information and Records by Depository and Issuer
State: Central
Year: 1996
(1) Every depository shall furnish to the issuer information about the transfer of securities in the name of beneficial owners at such intervals and in such manner as may be specified by the bye-laws. (2) Every issuer shall make available to the depository copies of the relevant records in respect of securities held by such depository.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 17
Title: Rights and Obligations of Depositories, Etc.
State: Central
Year: 1996
(1) Subject to the provisions of this Act, the rights and obligations of the depositories, participants and the issuers whose securities are dealt with by a depository shall be specified by the regulations. (2) The eligibility criteria for admission of securities into the depository shall be specified by the regulations.
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