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Section 23 – The Depositories Act, 1996

The Depositories Act, 1996





(1) Any person aggrieved by 1an order of the Board made under this Act, or the regulations made there under may prefer an appeal to the Central Government within such time as may be prescribed.


(2) No appeal shall be admitted if it is preferred after the expiry of the period prescribed therefore :


Provided that an appeal may be admitted after the expiry of the period prescribed therefore if the appellant satisfies the Central Government that he had sufficient cause for not preferring the appeal within the prescribed period.


(3) Every appeal made under this section shall be made in such form and shall be accompanied by a copy of the order appealed against and by such fees as may be prescribed.


(4) The procedure for disposing of an appeal shall be such as may be prescribed :


Provided that before disposing of an appeal, the appellant shall be given a reasonable opportunity of being heard.



1. Subs. by Act 32 of 1999, sec. 14, for “an order of the Board made” (w.e.f. 16-12-1999).



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The Depositories Act, 1996


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