Depositories Act, 1996

The Depositories Act, 1996

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	199622
Act Number:	22
Enactment Date:	1996-08-10
Act Year:	1996
Short Title:	The Depositories Act, 1996
Long Title:	An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.
Ministry:	Ministry of Finance
Department:	Department of Economic Affairs
Enforcement Date:	20-09-1995
Last Updated:	22-04-2019


Schedule 1. THE SCHEDULE Order Appendix Forms

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Show all section The Depositories Act, 1996

CHAPTER I

PRELIMINARY

CHAPTER II

CERTIFICATE OF COMMENCEMENT OF BUSINESS

CHAPTER III

RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS AND BENEFICIAL OWNERS

CHAPTER IV

ENQUIRY AND INSPECTION

CHAPTER V

MISCELLANEOUS

CHAPTER VI.--MISCELLANEOUS--Omitted.


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.
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 19A. Penalty for failure to furnish information, return, etc. Show Related Subordinates
Section 19B. Penalty for failure to enter into an agreement. Show Related Subordinates
Section 19C. Penalty for failure to redress investors‟ grievances. Show Related Subordinates
Section 19D. Penalty for delay in dematerialisation or issue of certificate of securities. Show Related Subordinates
Section 19E. Penalty for failure to reconcile records. Show Related Subordinates
Section 19F. Penalty for failure to comply with directions issued by Board under section 19 of the Act. Show Related Subordinates
Section 19FA. Penalty for conduct business in a fair manner.
Section 19G. Penalty for contravention where no separate penalty has been provided. Show Related Subordinates
Section 19H. Power to adjudicate.
Section 19-I. Factors to be taken into account by adjudicating officer.
Section 19-IA. Settlement of Administrative and Civil Proceedings
Section 19-IB. Recovery of amounts.
Section 19-IC. Continuance of proceedings.
Section 19J. Crediting sums realised by way of penalties to Consolidated Fund of India.
Section 20. Offences
Section 21. Offences by companies.
Section 22. Cognizance of offences by courts
Section 22A. Composition of certain offences.
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. Show Related Subordinates
Section 23A. Appeal to Securities Appellate Tribunal. Show Related Subordinates
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. Show Related Subordinates
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 30. Repealed..
Section 30A. Validation of certain acts.
Section 31. Repeal and saving.

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Year	Description	Files
1998	the Depositories (Appeal to the Central Government) Rules, 1998.
2000	the Depositories (Appeal to Securities Appellate Tribunal) Rules, 2000.
2005	the Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005.