The Depositories Act, 1996
Central Act · Act 22 of 199659 provisions4 citing judgments
The enactment
| Long title | An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 22 of 1996 |
| Year | 1996 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 59 |
| Subjects | financial |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Certificate of commencement of business by depositories.
- Section 4 Agreement between depository and participant.
- Section 5 Services of depository.
- Section 6 Surrender of certificate of security.
- Section 7 Registration of transfer of securities with depository.
- Section 8 Options to receive security certificate or hold securities with depository.
- Section 9 Securities in depositories to be in fungible form.1 citing judgment
- Section 10 Rights of depositories and beneficial owner.
- Section 11 Register of beneficial owner.
- Section 12 Pledge or hypothecation of securities held in a depository.
- Section 13 Furnishing of information and records by depository and issuer.
- Section 14 Option to opt out in respect of any security.
- Section 15 Act 18 of 1891 to apply to depositories.
- Section 16 Depositories to indemnify loss in certain cases.
- Section 17 Rights and obligations of depositories, etc.
- Section 18 Power of Board to call for information and enquiry.
- Section 19 Power of Board to give directions in certain cases.
- Section 19-I Factors to be taken into account by adjudicating officer.
- Section 19-IC Continuance of proceedings.
- Section 19-IA Settlement of Administrative and Civil Proceedings
- Section 19-IB Recovery of amounts.
- Section 19A Penalty for failure to furnish information, return, etc.
- Section 19B Penalty for failure to enter into an agreement.
- Section 19C Penalty for failure to redress investors‟ grievances.
- Section 19D Penalty for delay in dematerialisation or issue of certificate of securities.
- Section 19E Penalty for failure to reconcile records.
- Section 19F Penalty for failure to comply with directions issued by Board under section 19 of the Act.
- Section 19FA Penalty for conduct business in a fair manner.
- Section 19G Penalty for contravention where no separate penalty has been provided.
- Section 19H Power to adjudicate.
- Section 19J Crediting sums realised by way of penalties to Consolidated Fund of India.1 citing judgment
- Section 20 Offences
- Section 21 Offences by companies.
- Section 22 Cognizance of offences by courts
- Section 22A Composition of certain offences.1 citing judgment
- Section 22B Power to grant immunity.
- Section 22C Establishment of Special Courts
- Section 22D Offences triable by Special Courts
- Section 22E Appeal and revision
- Section 22F Application of Code to proceedings before Special Court
- Section 22G Transitional provisions.
- Section 23 Appeals.
- Section 23A Appeal to Securities Appellate Tribunal.1 citing judgment
- Section 23B Procedure and powers of Securities Appellate Tribunal.
- Section 23C Right to legal representation.
- Section 23D Limitations.
- Section 23E Civil Court not to have jurisdiction
- Section 23F Appeal to Supreme Court
- Section 23G Powers of Board not to apply to International Financial Services Centre.
- Section 24 Power of Central Government to make rules.
- Section 25 Power of Board to make regulations.
- Section 26 Power of depositories to make bye-laws.
- Section 27 Rules and regulations to be laid before Parliament.
- Section 28 Application of other laws not barred.
- Section 29 Removal of difficulties
- Section 30A Validation of certain acts.
- Section 31 Repeal and saving.
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