Section 10 of DA, 1996 : Section 10: Rights Of Depositories And Beneficial Owner
DA, 1996
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Explanation using Example
Imagine that Sarah has bought shares of XYZ Corporation through an online trading platform. The shares are electronically held in a depository. According to Section 10(1) of The Depositories Act, 1996, although Sarah is the actual (beneficial) owner of the shares, the depository is recognized as the registered owner for the purpose of transferring the shares, if Sar...
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