Securities Industry (Central Depositories) Act 1991 · Updated to 11 Apr 1991 · Part VII · General
66. Reference to owner in section 102 of the Companies Act 1965
Feedback & supportFor purposes of the application of section 102 of the
Companies Act 1965 in relation to any deposited security, a reference to an owner in the said section shall be construed as a reference to a central depository notwithstanding that the registration of such security in the name of the depository or its nominee company under section 18 of this Act may still be pending.
Subsection 102(2) of the Companies Act 1965 shall not apply to those certificates or documents which have already been registered in the name of the central depository or its nominee company.
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;