Definitions
Section 2 of the Depositories Act, 1996 deals with definitions. In this Act, unless the context otherwise requires,-- (a) "beneficial owner" means a person whose name is recorded as such with a depository; The Act came into force on 20 Sep 1995.
(1) In this Act, unless the context otherwise requires,--
(a) "beneficial owner" means a person whose name is recorded as such with a depository;
(b) "Board" means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(c) "bye-laws" means bye-laws made by a depository under section 26;
(d) "Company Law Board" means the Board of Company Law Administration constituted under section 10E of the Companies Act, 1956 (1 of 1956);
(e) "depository" means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(f) "issuer" means any person making an issue of securities;
(g) "participant" means a person registered as such under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(h) "prescribed" means prescribed by rules made under this Act;
(i) "record" includes the records maintained in the form of books or stored in a computer or in such other form as may be determined by regulations;
(j) "registered owner" means a depository whose name is entered as such in the register of the issuer;
(k) "regulations" means the regulations made by the Board;
1 [(ka) "Securities Appellate Tribunal" means a Securities Appellate Tribunal established under sub-section (1) of section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992);]
(l) "security" means such security as may be specified by the Board;
(m) "service" means any service connected with recording of allotment of securities or transfer of ownership of securities in the record of a depository.
(2) Words and expressions used herein and not defined but defined in the Companies Act, 1956 (1 of 1956) or the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Securities and Exchange Board of India Act, 1992 (15 of 1992), shall have the meanings respectively assigned to them in those Acts.
Section 2, The Depositories Act, 1996 (Act 22 of 1996).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
- s. 26 Power of depositories to make bye-laws
- Securities and Exchange Board of India Act s. 3 Establishment and incorporation of Board
- Securities and Exchange Board of India Act s. 12 Registration of stock-brokers, sub-brokers, share transfer agents, etc
- Securities and Exchange Board of India Act s. 15K Establishment of Securities Appellate Tribunals
Referred to by 60
- Andhra Pradesh Goods and Services Tax Act s. 150 Obligation to furnish information return
- Arunachal Pradesh Goods and Services Tax Act s. 150 Obligation to furnish information return
- Assam Goods and Services Tax Act s. 150
- Banking Companies (Acquisition and Transfer of Undertakings) Act s. 3B Register of beneficial owners
- Banking Companies (Acquisition and Transfer of Undertakings) Act s. 3B Register of beneficial owners
- Bihar Goods and Services Tax Act s. 284
- Central Excise Act s. 15A Obligation to furnish information return
- Central Goods and Services Tax Act s. 150 Obligation to furnish information return
- Chhattisgarh Goods and Services Tax Act s. 150
- Companies Act s. 2 Definitions
- Customs Act s. 108A Obligation to furnish information
- Delhi Goods and Services Tax Act s. 150
and 48 more
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… (ii) participant as an agent of a depository. Explanation – The expressions "depository" and "participants" shall b the meanings respectively assigned to them in clauses () and (g) of sub-section (1) of section 2 of the Depositories Act, 1996.) (3) Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both. (4) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), an offence under this …
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 2
What does Section 2 of the Depositories Act deal with?
Section 2 of the Depositories Act is headed "Definitions". In this Act, unless the context otherwise requires,-- (a) "beneficial owner" means a person whose name is recorded as such with a depository;
How do I find court cases under Section 2 of the Depositories Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Depositories Act 1996 2, section 2 Depositories Act 1996, section 2 of the Depositories Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 2 of the Depositories Act, and has it changed?
Its own text turns on section 26 (Power of depositories to make bye-laws), Securities and Exchange Board of India Act 3 (Establishment and incorporation of Board), Securities and Exchange Board of India Act 12 (Registration of stock-brokers, sub-brokers, share transfer agents, etc), Securities and Exchange Board of India Act 15K (Establishment of Securities Appellate Tribunals), so none of them can safely be read on its own. 60 other provisions in this corpus refer back to it. One instrument names it without being made under it, most recently the Depositories (Appeal to the Central Government) Rules, 1998. (1998).
When did Section 2 of the Depositories Act come into force?
Section 2 of the Depositories Act, cited as Depositories Act 1996 2, came into force on 20 Sep 1995, having been enacted on 10 Aug 1996. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.