Section 6: Surrender of certificate of security.

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

(1) Any person who has entered into an agreement under section 5 shall surrender the certificate of security, for which he seeks to avail the services of a depository, to the issuer in such manner as may be specified by the regulations.

(2) The issuer, on receipt of certificate of security under sub-section (1), shall cancel the certificate of security and substitute in its records the name of the depository as a registered owner in respect of that security and inform the depository accordingly.

(3) A depository shall, on receipt of information under sub-section (2), enter the name of the person referred to in sub-section (1) in its records, as the beneficial owner.

Where this provision sits

Act	The Depositories Act, 1996
Section	6
Marginal note	Surrender of certificate of security.
Jurisdiction	Central
Status	In force as published by the source

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