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    Question

    Depositories Act is applicable to?

    A Whole of India. Correct Answer Incorrect Answer
    B Depositories in India only Correct Answer Incorrect Answer
    C Depositories outside India also Correct Answer Incorrect Answer
    D Depositories owned by foreign nationals but situated in India Correct Answer Incorrect Answer
    E Depositories owned by Indians but situated in India. Correct Answer Incorrect Answer

    Solution

    As per Depositories Act, 1996, S.1.   Short title, extent and commencement.     (1) This Act may be called the Depositories Act, 1996. (2) It extends to the whole of India. (3) It shall be deemed to have come into force on the 20th day of September, 1995.                                                                                      Depository Act extends to the whole of India – concept covered in notes

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