Section 25

Power of Board to make regulations.

The Depositories Act, 1996

  • Act 22 of 1996
  • Ministry of Finance
  • Department of Economic Affairs
About this Act

An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.

All sections
    (1) Without prejudice to the provisions contained in section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board may, by notification in the Official Gazette, make regulations consistent with the provisions of this Act and the rules made thereunder to carry out the purposes of this Act.
     (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for--
         (a) the form in which record is to be maintained under clause (i) of sub-section (1) of section 2;
         (b) the form in which the certificate of commencement of business shall be issued under sub-section (2) of section 3;
         (c) the manner in which the certificate of security shall be surrendered under sub-section (1) of section 6;
         (d) the manner of creating a pledge or hypothecation in respect of security owned by a beneficial owner under sub-section (1) of section 12;
         (e) the conditions and the fees payable with respect to the issue of certificate of securities under sub-section (3) of section 14;
         (f) the rights and obligations of the depositories, participants and the issuers under sub-section (1) of section 17;
         (g) the eligibility criteria for admission of securities into the depository under sub-section (2) of section 17;
         1 [(h) the terms determined by the Board for settlement of proceedings under sub-section (2) of section 19-IA;
         (i) any other matter which is required to be, or may be, specified by regulations or in respect of which provision to be made by regulations.]

Notes

1. Ins. by Act 27 of 2014, s. 55 (w.e.f. 18-7-2013).

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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