New NABARD Grade A : How to prepare ESI for Prelims & Mains- Sources & Strategy
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Question

Any person who has entered into an agreement with any depository for availing its services shall surrender ………..

A Registration certificate to the depository Correct Answer Incorrect Answer
B Certificate of Security to the issuer Correct Answer Incorrect Answer
C Certificate of Security to the depository Correct Answer Incorrect Answer
D Registration certificate to the issuer Correct Answer Incorrect Answer
E Certificate of security to the depository participant Correct Answer Incorrect Answer

Solution

Section 6 of the Depository Act - Surrender of certificate of security—(1) Any person who has entered into an agreement under section 5 shall surrender the certificate of security, for which he seeks to avail the services of a depository, to the issuer in such manner as may be specified by the regulations. (2) The issuer, on receipt of certificate of security under sub-section (1), shall cancel the certificate of security and substitute in its records the name of the depository as a registered owner in respect of that security and inform the depository accordingly. (3) A depository shall, on receipt of information under sub-section (2), enter the name of the person referred to in sub-section (1) in its records, as the beneficial owner.

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