Depositories Act : Securities in depositories to be in fungible form. Indian Bare Acts :

Depositories Act,1996

Act No : 22

Section : Securities in depositories to be in fungible form.

9. Securities in depositories to be in fungible form. (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 the securities held by a depository on behalf of the beneficial owners.