Section 26 of DA, 1996 : Section 26: Power Of Depositories To Make Bye-Laws
DA, 1996
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Explanation using Example
Imagine that XYZ Depository is a depository registered under the Securities and Exchange Board of India (SEBI). To improve its operations and comply with the Depositories Act, 1996, XYZ Depository decides to update its bye-laws. Before implementing any changes, XYZ Depository drafts new bye-laws that include procedures for electronic transfer of shares, criteria for investors to open demat accounts, and safeguards to protect investor data.
Before these bye-laws can take effect, XYZ Depository submits them to SEBI for approval, as required by Section ...
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