Certificate of commencement of business by depositories
Section 3 of the Depositories Act, 1996 deals with certificate of commencement of business by depositories. No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board. The Act came into force on 20 Sep 1995.
(1) No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board.
(2) A certificate granted under sub-section (1) shall be in such form as may be specified by the regulations.
(3) The Board shall not grant it certificate under sub-section (1) unless it is satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions:
Provided that no certificate shall be refused under this section unless the depository concerned has been given a reasonable opportunity of being heard.
Section 3, 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.
Referred to by 1
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 3
What does Section 3 of the Depositories Act deal with?
Section 3 of the Depositories Act is headed "Certificate of commencement of business by depositories". No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board.
How do I find court cases under Section 3 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 3, section 3 Depositories Act 1996, section 3 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 3 of the Depositories Act, and has it changed?
1 other provision in this corpus refers 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 3 of the Depositories Act come into force?
Section 3 of the Depositories Act, cited as Depositories Act 1996 3, 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
- 19-IB. Recovery of amounts590 words
- 19-IC. Continuance of proceedings382 words
- 26. Power of depositories to make bye-laws377 words
- 2. Definitions349 words
- 19H. Power to adjudicate314 words
- 23A. Appeal to Securities Appellate Tribunal284 words
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 17 Oct 2026. This page is not a substitute for legal advice.