Cancellation of share certificates under depositories framework exempted from application of issue-of-share-certificates rule by specified regulations. The amendment inserts a proviso to rule 9 after sub-rule (2) clarifying that that sub-rule does not apply to cancellation of certificates of security under the Depositories Act, 1996 when such cancellations are made in accordance with sub-regulation (5) of regulation 54 of the SEBI (Depositories and Participants) Regulations, 1996 read with section 25 of the Depositories Ordinance, 1996.
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Provisions expressly mentioned in the judgment/order text.
Cancellation of share certificates under depositories framework exempted from application of issue-of-share-certificates rule by specified regulations.
The amendment inserts a proviso to rule 9 after sub-rule (2) clarifying that that sub-rule does not apply to cancellation of certificates of security under the Depositories Act, 1996 when such cancellations are made in accordance with sub-regulation (5) of regulation 54 of the SEBI (Depositories and Participants) Regulations, 1996 read with section 25 of the Depositories Ordinance, 1996.
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