Section 10
Rights of depositories and beneficial owner.
About this Act
An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.
(1) Notwithstanding anything contained in any
other law for the time being in force, a depository shall be deemed to be the registered owner for the
purposes of effecting transfer of ownership of security on behalf of a beneficial owner.
(2) Save as otherwise provided in sub-section (1), the depository as a registered owner shall not have any voting rights or any other rights in respect of securities held by it.
(3) The beneficial owner shall be entitled to all the rights and benefits and be subjected to all the liabilities in respect of his securities held by a depository.
(2) Save as otherwise provided in sub-section (1), the depository as a registered owner shall not have any voting rights or any other rights in respect of securities held by it.
(3) The beneficial owner shall be entitled to all the rights and benefits and be subjected to all the liabilities in respect of his securities held by a depository.