Chapter V - RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION (From Regulation 26 to Regulation 58C)
Liability for issuer default: regulator may take action when issuers or agents breach depository obligations or withhold required information. Regulation 64A authorises the regulator to take action under the Depositories Act against issuers or their agents who breach depository laws or directions, fail to furnish or furnish false material information, or do not cooperate with inspections or enquiries; it also requires the depository to inspect issuer/agent records to ensure reconciliation of dematerialised securities with issued securities and to report reconciliation failures to the regulator.
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.
Liability for issuer default: regulator may take action when issuers or agents breach depository obligations or withhold required information.
Regulation 64A authorises the regulator to take action under the Depositories Act against issuers or their agents who breach depository laws or directions, fail to furnish or furnish false material information, or do not cooperate with inspections or enquiries; it also requires the depository to inspect issuer/agent records to ensure reconciliation of dematerialised securities with issued securities and to report reconciliation failures to the regulator.
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