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The Depositories Act, 1996

The Depositories Act, 1996





1 Short title, extent and commencement.
2 Definitions.
3 Certificate of commencement of business by depositories.
4 Agreement between depository and participant.
5 Services of depository.
6 Surrender of certificate of security.
7 Registration of transfer of securities with depository.
8 Options to receive security certificate or hold securities with depositories.
9 Securities in depositories to be in fungible form.
10 Rights of depositories and beneficial owner.
11 Register of beneficial owner.
12 Pledge or Hypothecation of securities held in a depository.
13 Furnishing of Information and records by depository and issuer.
14 Option to opt out in respect of any security.
15 Act 18 of 1891 to apply to depositories.
16 Depositories to Indemnify loss in certain cases.
17 Rights and Obligations of depositories, etc.
18 Power of Board to call for Information and Inquiry.
19 Power of Board to give Directions in certain cases.
19A Penalty for failure to furnish information, return, etc..
19B Penalty for failure to enter into an agreement.—
19C Penalty for failure to redress Investors’ grievances.
19D Penalty for delay in dematerialisation or issue of certificate of securities.
19E Penalty for failure to reconcile records.
19F Penalty for failure to comply with directions issued by Board under section 19 of the Act.
19G Penalty for contravention where no separate penalty has been provided.
19H Power to adjudicate.—
19I Factors to be taken into account by adjudicating officer.
19J Crediting sums realised by way of penalties to Consolidated Fund of India.
20 Offences.
21 Offences by companies.
22 Cognizance of offences by courts.
22A Composition of certain offences
22B Power to grant immunity
23 Appeals.
23A Appeal to Securities Appellate Tribunal.
23B Procedure and powers of Securities Appellate Tribunal.
23C Right to legal representation.
23D Limitation.
23E Civil court not to have jurisdiction.
23F Appeal to Supreme Court.
24 Power of Central Government to make rules.
25 Power of Board to make regulations.
26 Power of depositories to make Bye-Laws.
27 Rules and Regulations to be laid before parliament.
28 Application of other laws not barred.
29 Removal of Difficulties.
30 Amendments to Certain Enactments.
31 Repeal and Saving.




   Schedule I
   Schedule II
   Schedule III
   Schedule IV
   Schedule V
    Schedule VI


Indian Laws – Bare Acts

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