Section List

Act Number: 22

Act Name: The Depositories Act, 1996

Year: 1996

Enactment Date: 1996-08-10

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

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section NumberTitleActions
1 Short title, extent and commencement.
2 Definitions.
3 Certificate of commencement of business by depositories.
4 Agreement between depository and participant.
5 Services of depository.
6 Surrender of certificate of security.
7 Registration of transfer of securities with depository.
8 Options to receive security certificate or hold securities with depository.
9 Securities in depositories to be in fungible form.
10 Rights of depositories and beneficial owner.
11 Register of beneficial owner.
12 Pledge or hypothecation of securities held in a depository.
13 Furnishing of information and records by depository and issuer.
14 Option to opt out in respect of any security.
15 Act 18 of 1891 to apply to depositories.
16 Depositories to indemnify loss in certain cases.
17 Rights and obligations of depositories, etc.
18 Power of Board to call for information and enquiry.
19 Power of Board to give directions in certain cases.
19A Penalty for failure to furnish information, return, etc.
19B Penalty for failure to enter into an agreement.
19C Penalty for failure to redress investors‟ grievances.
19D Penalty for delay in dematerialisation or issue of certificate of securities.
19E Penalty for failure to reconcile records.
19F Penalty for failure to comply with directions issued by Board under section 19 of the Act.
19G Penalty for contravention where no separate penalty has been provided.
19H Power to adjudicate.
19-I Factors to be taken into account by adjudicating officer.
19-IA Settlement of Administrative and Civil Proceedings
19-IBRecovery of amounts.
19JCrediting sums realised by way of penalties to Consolidated Fund of India.
20 Offences
21 Offences by companies.
22 Cognizance of offences by courts
22AComposition of certain offences.
22BPower to grant immunity.
22C Establishment of Special Courts
22D Offences triable by Special Courts
22EAppeal and revision
22FApplication of Code to proceedings before Special Court
22GTransitional provisions.
23 Appeals.
23AAppeal to Securities Appellate Tribunal.
23BProcedure and powers of Securities Appellate Tribunal.
23C Right to legal representation.
23D Limitations.
23E Civil Court not to have jurisdiction
23F Appeal to Supreme Court
24Power of Central Government to make rules.
25Power of Board to make regulations.
26 Power of depositories to make bye-laws.
27 Rules and regulations to be laid before Parliament.
28 Application of other laws not barred.
29 Removal of difficulties
30 Repealed..
30AValidation of certain acts.
31 Repeal and saving.
19FAPenalty for conduct business in a fair manner.
19-ICContinuance of proceedings.
23G Powers of Board not to apply to International Financial Services Centre.
Scroll to Top