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Section 6 – The Depositories Act, 1996

The Depositories Act, 1996

 

 

6. SURRENDER OF CERTIFICATE OF SECURITY.

 

(1) Any person who has entered into an agreement under section 5 shall surrender the certificate of security, for which he seeks to avail the services of a depository, to the issuer in such manner as may be specified by the regulations.

 

(2) The issuer, on receipt of certificate of security under sub-section (1), shall cancel the certificate of security and substitute in its records the name of the depository as a registered owner in respect of that security and inform the depository accordingly.

 

(3) A depository shall, on receipt of information under sub-section (2), enter the name of the person referred in sub-section (1) in its records, as the beneficial owner.

 

 

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The Depositories Act, 1996

 

Indian Laws – Bare Acts

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