Depositories Act,1996
Act No : 22
Section :
Interpretation of certain words and expressions.
"2A. Interpretation of certain words and expressions. Words and expressions used and not defined in this Act but defined in the Depositories Act, 1996 shall have the same meanings respectively assigned to them in that Act.". 3. In section 41, after sub-section (2), the following sub- section shall be inserted, namely:- "(3) Every person holding equity share capital of company and whose name is entered as beneficial owner in the records of the depository shall be deemed to be a member of the concerned company.". 4. In section 49, in sub-section (5), after clause (b), the following clause shall be inserted, namely:- "(c) from holding investments in the name of a depository when such investment are in the form of securities held by the company as a beneficial owner.". 5. In section 51, the following proviso shall be inserted, namely:- "Provided that where the securities are held in a depository, the records of the beneficial ownership may be served by such depository on the company by means of electronic mode or by delivery of floppies or discs.". 6. Section 83 shall be omitted. 7. In section 108, after sub-section (2), the following sub- section shall be inserted, namely:- "(3) Nothing contained in this section shall apply to transfer of security effected by the transferor and the transferee both of whom are entered as beneficial owners in the records of a depository.". 8. In section 111, after sub-section (13), the following sub- section shall be inserted, namely:- `(14) In this section "company" means a private company and includes a private company which had become a public company by virtue of section 43A of this Act.'. 9. After section 111, the following section shall be inserted, namely:-
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