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DEPOSITORY ACT, 1996 gives a brief detail on the definition of depository as stated by the act. This includes the different terms used in reference to deposit. Rights and obligations of depositories, participants, issuers and beneficial owners. Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with
DEPOSITORY ACT, 1996 gives a brief detail on the definition of depository as stated by the act. This includes the different terms used in reference to deposit. Rights and obligations of depositories, participants, issuers and beneficial owners. Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with
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DEPOSITORY ACT, 1996 gives a brief detail on the definition of depository as stated by the act. This includes the different terms used in reference to deposit. Rights and obligations of depositories, participants, issuers and beneficial owners. Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with
Drepturi de autor:
Attribution Non-Commercial (BY-NC)
Formate disponibile
Descărcați ca DOC, PDF, TXT sau citiți online pe Scribd
1. Definition: This gives a brief detail on the definition of
depository as stated by the act. This includes the different terms used in reference to deposit.
2. Certificate of commencement of business: It is the
certificate which each and every firm/organisation should get from the registrar of the companies. The certificate is issued after the organisation gets registered according to the rules and regulation of Companies Act, 1956.
3. Rights and obligations of depositories, participants,
issuers and beneficial owners: This provides us the information about the rights and obligations of different parties involved in the transaction of securities. This helps the investor, owners, etc., to be safe for any purposes. The following are the contents for the rights and obligations of the depositories:
1. Agreement between depository and participant.
2. Services of depository. 3. Surrender of transfer of securities with depository. 4. Registration of transfer of securities with depositories. 5. Options to receive security certificate or hold securities with depository. 6. Securities in depositories should be in fungible form. 7. Rights of depositories and beneficial owner. 8. Register of the beneficial owner. 9. Pledge or hypothecation of securities held in a depository. 10. Furnishing of information and records by depository and issuer. 11. Option to opt out in respect of any security. 12. Act 18 of 1891to applies to depositories. 13. Depositories to indemnify loss in certain cases. 14. Rights and obligations of depositories, etc. 4. Enquiry and Inspection: The company/organisation on any time (if necessary) can verify the securities on various basis. The company can call for the proof of the investor. It can be- voter id, residence address, PAN card, etc., to avoid the allotment of securities on BOGUS names. The following are the topics discussed in the enquiry and inspections: 1. Power of board to call for information and enquiry and 2. Power of board to give directions in certain cases. 5. Penalty: Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this Act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with fine, or with both. The company are penalised based on the following two factors: 1. General Offences 2. Offences made by the companies.
6. Miscellaneous: The following constitute the miscellaneous
steps taken by the committee: 1. Cognizance’s of offences by courts. 2. Appeals. 3. Power of central governments to make rules. 4. Power of board to make regulations. 5. Power of depositories to make bye-laws. 6. Rules and regulations to be laid before parliament. 7. Application of other laws not barred. 8. Removal of difficulties. 9. Amendments to certain enactments. 10. Repeal and savings.
Presented by:
Anuj. S Anto Roy Milton Arthi duraisami Aravind. E Arulmani
Djankov, S., LaPorta, R., Lopez-de-Silanes, F., and Shleifer, A. (2008), "The Law and Economics of Self-Dealing", Journal of Financial Economics 88, Pp. 430-465.