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    Question

    What must a depository obtain from the Board before it

    can act as a depository as per the Depositories Act?
    A A license to operate Correct Answer Incorrect Answer
    B A certificate of incorporation Correct Answer Incorrect Answer
    C A certificate of commencement of business Correct Answer Incorrect Answer
    D A registration certificate Correct Answer Incorrect Answer
    E An approval certificate Correct Answer Incorrect Answer

    Solution

    Section 3 Certificate of commencement of business by depositories.—(1) No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board. 3. Certificate of commencement of business by depositories.—(1) No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board.

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