Securities Industry (Central Depositories) Act 1991 · Updated to 11 Apr 1991 · Part III · Provisions Relating to Deposited Securities
30. Entries in securities accounts
Feedback & supportAn entry in a securities account in respect of a dealing shall—
securities account
―securities account‖ means an account established by a central depository for a depositor for the recording of deposit of securities and for dealings in such securities by the depositor;
in the case of a securities account established and maintained directly by a central depository, be deemed to have been made by, or with the authority of, the central depository; and
central depository
―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;
in the case of a securities account established through, and maintained by, an authorized depository agent on behalf of a central depository, be deemed to have been made by, or with the authority of, the authorized depository agent.