Option to opt out from depository holdings requires owner notice, depository update and issuer to issue securities certificate. Option to opt out permits a beneficial owner to notify the depository to withdraw a security; the depository must update records and inform the issuer. The issuer, upon receipt of the depository's intimation and on fulfillment of regulatory conditions and payment of prescribed fees, must issue the certificate of securities to the beneficial owner or transferee within thirty days.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Option to opt out from depository holdings requires owner notice, depository update and issuer to issue securities certificate.
Option to opt out permits a beneficial owner to notify the depository to withdraw a security; the depository must update records and inform the issuer. The issuer, upon receipt of the depository's intimation and on fulfillment of regulatory conditions and payment of prescribed fees, must issue the certificate of securities to the beneficial owner or transferee within thirty days.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
