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    Question

    Surrender of certificate of security is made to the

    …
    A Depository Correct Answer Incorrect Answer
    B Depository Participant Correct Answer Incorrect Answer
    C Issuer Correct Answer Incorrect Answer
    D Stock Broker Correct Answer Incorrect Answer
    E SEBI Correct Answer Incorrect Answer

    Solution

    Section 6 of Depositories 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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