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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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