Withdrawal of transfer cum demat facility announced, depositories directed to amend rules, notify participants and report implementation. Depositories are instructed to amend their bye-laws, rules and regulations immediately to give effect to the withdrawal of the transfer-cum-demat facility; to notify and disseminate the change to their Depository Participants; and to communicate implementation status to the regulator, on the basis that pervasive dematerialised trading has rendered the facility redundant.
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Provisions expressly mentioned in the judgment/order text.
Withdrawal of transfer cum demat facility announced, depositories directed to amend rules, notify participants and report implementation.
Depositories are instructed to amend their bye-laws, rules and regulations immediately to give effect to the withdrawal of the transfer-cum-demat facility; to notify and disseminate the change to their Depository Participants; and to communicate implementation status to the regulator, on the basis that pervasive dematerialised trading has rendered the facility redundant.
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