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The Depositories Act, 1996

Central

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

Act number
22 of 1996
Ministry
Ministry of Finance
Department
Department of Economic Affairs
Enacted
10 Aug 1996

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

60 sections

  1. Section 1Short title, extent and commencement.
  2. Section 2Definitions.
  3. Section 3Certificate of commencement of business by depositories.
  4. Section 4Agreement between depository and participant.
  5. Section 5Services of depository.
  6. Section 6Surrender of certificate of security.
  7. Section 7Registration of transfer of securities with depository.
  8. Section 8Options to receive security certificate or hold securities with depository.
  9. Section 9Securities in depositories to be in fungible form.
  10. Section 10Rights of depositories and beneficial owner.
  11. Section 11Register of beneficial owner.
  12. Section 12Pledge or hypothecation of securities held in a depository.
  13. Section 13Furnishing of information and records by depository and issuer.
  14. Section 14Option to opt out in respect of any security.
  15. Section 15Act 18 of 1891 to apply to depositories.
  16. Section 16Depositories to indemnify loss in certain cases.
  17. Section 17Rights and obligations of depositories, etc.
  18. Section 18Power of Board to call for information and enquiry.
  19. Section 19Power of Board to give directions in certain cases.
  20. Section 19APenalty for failure to furnish information, return, etc.
  21. Section 19BPenalty for failure to enter into an agreement.
  22. Section 19CPenalty for failure to redress investors‟ grievances.
  23. Section 19DPenalty for delay in dematerialisation or issue of certificate of securities.
  24. Section 19EPenalty for failure to reconcile records.
  25. Section 19FPenalty for failure to comply with directions issued by Board under section 19 of the Act.
  26. Section 19FAPenalty for conduct business in a fair manner.
  27. Section 19GPenalty for contravention where no separate penalty has been provided.
  28. Section 19HPower to adjudicate.
  29. Section 19-IFactors to be taken into account by adjudicating officer.
  30. Section 19-IASettlement of Administrative and Civil Proceedings
  31. Section 19-IBRecovery of amounts.
  32. Section 19-ICContinuance of proceedings.
  33. Section 19JCrediting sums realised by way of penalties to Consolidated Fund of India.
  34. Section 20Offences
  35. Section 21Offences by companies.
  36. Section 22Cognizance of offences by courts
  37. Section 22AComposition of certain offences.
  38. Section 22BPower to grant immunity.
  39. Section 22CEstablishment of Special Courts
  40. Section 22DOffences triable by Special Courts
  41. Section 22EAppeal and revision
  42. Section 22FApplication of Code to proceedings before Special Court
  43. Section 22GTransitional provisions.
  44. Section 23Appeals.
  45. Section 23AAppeal to Securities Appellate Tribunal.
  46. Section 23BProcedure and powers of Securities Appellate Tribunal.
  47. Section 23CRight to legal representation.
  48. Section 23DLimitations.
  49. Section 23ECivil Court not to have jurisdiction
  50. Section 23FAppeal to Supreme Court
  51. Section 23GPowers of Board not to apply to International Financial Services Centre.
  52. Section 24Power of Central Government to make rules.
  53. Section 25Power of Board to make regulations.
  54. Section 26Power of depositories to make bye-laws.
  55. Section 27Rules and regulations to be laid before Parliament.
  56. Section 28Application of other laws not barred.
  57. Section 29Removal of difficulties
  58. Section 30Repealed..
  59. Section 30AValidation of certain acts.
  60. Section 31Repeal and saving.