(1) Every depository shall maintain the following records and documents, namely :—
(a) records of securities dematerialised and rematerialised;
(b) the names of the transferor, transferee, and the dates of transfer of securities;
(c) a register and an index of beneficial owners;
(d) details of the holding of the securities of beneficial owners as at the end of each day;
(e) records of instructions received from and sent to participants, issuers, issuers’ agents and beneficial owners;
(f) records of approval, notice, entry and cancellation of pledge or hypothecation, as the case may be;
(g) details of participants;
(h) details of securities declared to be eligible for dematerialisation in the depository; and
(i) such other records as may be specified by the Board for carrying on the activities as a depository.
(2) Every depository shall intimate the Board the place where the records and documents are maintained.
(3) Subject to the provisions of any other law the depository shall preserve records and documents for a minimum period of eight years.
Co-operation with other entities
55. Every depository shall extend all such co-operation to the beneficial owners, issuers, issuers’ agents, custodians of securities, other depositories and clearing organizations as is necessary for the effective, prompt and accurate clearance and settlement of securities transactions and conduct of business.
Consolidated account statement
56. In order to enable generation of a consolidated account statement for the use of a beneficial owner in respect of all demat assets held by him, the depository shall enter into necessary agreements for sharing of such information.
25 Prohibition of assignment
57. No depository shall assign or delegate to any other person its functions as a depository, without the prior approval of the Board.
Agreement by participant
58. Every participant shall enter into an agreement with a beneficial owner before acting as a participant on his behalf, in a manner specified by the depository in its bye-laws.
Separate accounts