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Section 25 – The Depositories Act, 1996

The Depositories Act, 1996





(1) Without prejudice to the provisions contained in section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board may, by notification in the Official Gazette, make regulations consistent with the provisions of this Act and the rules made there under to carry out the purposes of this Act.


(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for –


(a) the form in which record is to be maintained under clause (i) of sub-section (1) of section 2;


(b) the form in which the certificate of commencement of business shall be issued under sub-section (2) of section 3;


(c) the manner in which the certificate of security shall be surrendered under sub-section (1) of section 6;


(d) the manner of creating a pledge or hypothecation in respect of security owned by a beneficial owner under sub-section (1) of section 12;


(e) the conditions and the fees payable with respect to the issue of certificate of securities under sub-section (3) of section 14;


(f) the rights and obligations of the depositories, participants and the issuers under sub-section (1) of section 17;


(g) the eligibility criteria for admission of securities in the depository under sub-section (2) of section 17.



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The Depositories Act, 1996


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