Depositories: beneficial owners recognised for membership, stamp exemptions, tax attribution, and register rectification mechanisms. Securities held and transferred through a depository are exempt from separate stamping and certain stamp duties; beneficial owners recorded in depository registers are deemed members and taxable on gains from transfers of their beneficial interests with cost and holding period determined on a first-in-first-out basis; depository registers are treated as the company register for members and debenture holders and the Company Law Board may order rectification and suspend voting rights pending enquiry.