Section 9: Securities in depositories to be in fungible form.

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

(1) All securities held by a depository shall be dematerialised and shall be in a fungible form.

[(2) Nothing contained in sections 153, 153A, 153B, 187B, 187C and 372 of the Companies Act, 1956 (1 of 1956) shall apply to a depository in respect of securities held by it on behalf of the beneficial owners.]

Where this provision sits

Act	The Depositories Act, 1996
Section	9
Marginal note	Securities in depositories to be in fungible form.
Jurisdiction	Central
Status	In force as published by the source
Judgments citing it	1

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

substituted, Act 8 of 1997. . Subs. by Act 8 of 1997, s. 22, for sub-section (2) (w.e.f. 15-1-1997).

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