9. SECURITIES IN DEPOSITORIES TO BE IN FUNGIBLE FORM.
(1) All securities held by a depository shall be dematerialized 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.
1. Subs. by Act 8 of 1997, sec. 22, for sub-section (2) (w.e.f. 15-1-1997).