The Depositories Act

Agreement between depository and participant

Services of depository

Surrender of certificate of security

Registration of transfer of securities with depository

Options to receive security certificate or hold securities with depository

Securities in depositories to be in fungible form

Rights of depositories and beneficial owner

Register of beneficial owner

Pledge or hypothecation of securities held in a depository

Furnishing of information and records by depository and issuer

Option to opt out in respect of any security

Act 18 of 1891 to apply to depositories

Depositories to indemnify loss in certain cases

Rights and obligations of depositories, etc


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


(1) All securities held by a depository shall be
dematerialised 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.]


LAWGIST

# 9 Securities in depositories to be in fungible form