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      Question

      Can a depository delegate its functions as a depository

      to any other person?
      A No Correct Answer Incorrect Answer
      B Yes Correct Answer Incorrect Answer
      C Yes, with prior approval of Central Government Correct Answer Incorrect Answer
      D Yes, with prior approval of the Board Correct Answer Incorrect Answer
      E No, SEBI (Depositories and Participants) Regulations prohibit this Correct Answer Incorrect Answer

      Solution

      Regulation 57 of SEBI (Depositories and Participants) Regulations 2018 Prohibition of assignment - No depository  shall  assign  or  delegate  to  any  other  person  its  functions  as  a  depository, without the prior approval of the Board.

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