19. Central depository and authorized depository agent not liable for loss

Terms defined in s 2

• Act

  Act

  Defined · s 2

  ―Act‖ includes any regulations made under this Act;

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• authorized depository agent

  authorized depository agent

  Defined · s 2

  ―authorized depository agent‖, in relation to any central depository, means a person appointed under section 13 to be an agent of that central depository;

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• buying in

  buying in

  Defined · s 2

  ―buying in‖ means the buying effected by a stock exchange or its clearing house, according to the rules of the stock exchange, of securities which a seller has failed to deliver on a day fixed for settlement;

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• central depository

  central depository

  Defined · s 2

  ―central depository‖ means a company approved by the Minister under section 5— Securities Industry (Central Depositories) 11 (a) to establish and operate a system for the central handling of securities, whether or not listed on any stock exchange,— (i) whereby all such securities are deposited with and held in custody by, or registered in the name of, the company or its nominee company for the depositors and dealings in respect of those securities are effected by means of entries in securities accounts without the physical delivery of scrips; or (ii) which permits or facilitates the settlement of securities transactions or dealings in securities without the physical delivery of scrips; and (b) to provide other facilities and services incidental thereto;

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• dealing

  dealing

  Defined · s 2

  ―dealing‖, in relation to any deposited security, includes the charging or pledging of the deposited security by a depositor;

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• participating organization

  participating organization

  Defined · s 2

  ―participating organization‖ has the same meaning as is assigned to that expression under subsection 2(1) of the *Securities Industry Act 1983;

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• rules

  rules

  Defined · s 2

  ―rules‖, in relation to— (a) a central depository, means the rules of a central depository, and includes— (i) rules contained in the memorandum and articles of association or other constituent document of the central depository; (ii) rules to ensure compliance by its authorized depository agents, users or depositors of any obligations imposed by this Act or any other written law; (iii) rules in relation to the provision of services for the deposit, holding, transfer and withdrawal of securities, and the suspension or withdrawal of such services; (iv) rules to provide for the persons who may participate in one or more of the services referred to in subparagraph (iii); and (v) rules in respect of such other matters as are necessary or desirable for the proper and efficient operation and management of the central depository, including rules setting fees and charges; and Securities Industry (Central Depositories) 15 (b) an exchange holding company, means the memorandum and articles of association, including rules regulating the activities and conduct of the company in its capacity as an exchange holding company;

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• security

  security

  Defined · s 2

  ―security‖ means debenture, note, stock and share in a public company or corporation, or bond of any government or of any body, corporate or unincorporate, and includes any right or option in respect thereof, any interest as defined in section 84 of the Companies Act 1965 and any interest in a unit trust scheme;

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• stock exchange

  stock exchange

  Defined · s 2

  ―stock exchange‖ has the same meaning as is assigned to that expression under subsection 2(1) of the *Securities Industry Act 1983; *NOTE—This Act has since been repealed by Capital Market and Services Act 2007 which comes into operation on 28 September 2007 except Division 2 of Part VI which comes into operation on 1 April 2010–see subsection 381(2)…

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