Section 9 of the Depositories Act, 1996 – Securities in depositories to be in fungible form

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Section 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. 1 [(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.]

Source: official text of The Depositories Act, 1996 as published on India Code (PDF). All sections of the Depositories Act, 1996.

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