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LAWGIST

The Depositories Act

An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.
1996
List of Chapters & Sections

  1. PRELIMINARY

  2. 1
     Short title, extent and commencement
  3. 2
     Definitions

  • CERTIFICATE OF COMMENCEMENT OF BUSINESS

  • 3
     Certificate of commencement of business by depositories

  • RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS AND BENEFICIAL OWNERS

  • 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 depository
  • 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

  • ENQUIRY AND INSPECTION

  • 18
     Power of Board to call for information and enquiry
  • 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
  • 19FA
     Penalty for conduct business in a fair manner
  • 19G
     Penalty for contravention where no separate penalty has been provided
  • 19H
     Power to adjudicate
  • 19-I
     Factors to be taken into account by adjudicating officer
  • 19-IA
     Settlement of Administrative and Civil Proceeding
  • 19-IB
     Recovery of amounts
  • 19-IC
     Continuance of proceedings
  • 19J
     Crediting sums realised by way of penalties to Consolidated Fund of India

  • MISCELLANEOUS

  • 20
     Offence
  • 21
     Offences by companies

  • CHAPTER VI.--MISCELLANEOUS--Omitted.

  • 22
     Cognizance of offences by court
  • 22A
     Composition of certain offences
  • 22B
     Power to grant immunity
  • 22C
     Establishment of Special Court
  • 22D
     Offences triable by Special Court
  • 22E
     Appeal and revisio
  • 22F
     Application of Code to proceedings before Special Cour
  • 22G
     Transitional provisions
  • 23
     Appeals
  • 23A
     Appeal to Securities Appellate Tribunal
  • 23B
     Procedure and powers of Securities Appellate Tribunal
  • 23C
     Right to legal representation
  • 23D
     Limitations
  • 23E
     Civil Court not to have jurisdictio
  • 23F
     Appeal to Supreme Cour
  • 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 difficultie
  • 30
     Repealed.
  • 30A
     Validation of certain acts
  • 31
     Repeal and saving