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    Question

    According to the Depository Act any loss caused to the

    beneficial owner due to the negligence of the depository or the participant, _____________________
    A The depository shall indemnify such owner Correct Answer Incorrect Answer
    B The depository shall indemnify participants Correct Answer Incorrect Answer
    C The depository shall indemnify such beneficial owner Correct Answer Incorrect Answer
    D Either a or b or c Correct Answer Incorrect Answer
    E Either b or c Correct Answer Incorrect Answer

    Solution

    Section 16.   Depositories to indemnify loss in certain cases: (1) Without prejudice to the provisions of any other law for the time being in force, any loss caused to the beneficial owner due to the negligence of the depository or the participant, the depository shall indemnify such beneficial owner.

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