Section 10: Rights of depositories and beneficial owner.

The Depositories Act, 1996Central Act · Act 22 of 1996

(1) Notwithstanding anything contained in any other law for the time being in force, a depository shall be deemed to be the registered owner for the purposes of effecting transfer of ownership of security on behalf of a beneficial owner.

(2) Save as otherwise provided in sub-section (1), the depository as a registered owner shall not have any voting rights or any other rights in respect of securities held by it.

(3) The beneficial owner shall be entitled to all the rights and benefits and be subjected to all the liabilities in respect of his securities held by a depository.

Where this provision sits

Act	The Depositories Act, 1996
Section	10
Marginal note	Rights of depositories and beneficial owner.
Jurisdiction	Central
Status	In force as published by the source

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