Section 8
Options to receive security certificate or hold securities with depository.
About this Act
An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.
(1) Every person
subscribing to securities offered by an issuer shall have the option either to receive the security
certificates or hold securities with a depository.
(2) Where a person opts to hold a security with a depository, the issuer shall intimate such depository the details of allotment of the security, and on receipt of such information the depository shall enter in its records the name of the allottee as the beneficial owner of that security.
(2) Where a person opts to hold a security with a depository, the issuer shall intimate such depository the details of allotment of the security, and on receipt of such information the depository shall enter in its records the name of the allottee as the beneficial owner of that security.