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    Question

    Anyone who wants to be a Depository Participant needs to

    be registered with:
    A Depository Act, 1996 Correct Answer Incorrect Answer
    B SEBI ACT, 1992 Correct Answer Incorrect Answer
    C RBI Act 1934 Correct Answer Incorrect Answer
    D Both a and c Correct Answer Incorrect Answer
    E Both a and b Correct Answer Incorrect Answer

    Solution

    Depositories Act, 1996 defines a DP as a person registered under Section 12 of the Securities Exchange Board of India (‘SEBI’) Act, 1992. Section 12 of the SEBI Act states that no DP shall buy, sell or deal in securities unless registered with SEBI.

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