21. Central depository deemed a bare trustee

Terms defined in s 2

• Act

  Act

  Defined · s 2

  ―Act‖ includes any regulations made under this Act;

  Open s 2
• 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;

  Open s 2
• nominee company

  nominee company

  Defined · s 2

  ―nominee company‖, in relation to a central depository, means a company appointed by the central depository for the purpose of holding any deposited security;

  Open s 2