Section 9
Securities in depositories to be in fungible form.
About this Act
An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.
(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.]
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.]
Notes
1. Subs. by Act 8 of 1997, s. 22, for sub-section (2) (w.e.f. 15-1-1997).