Regulation 32 - Mechanism for investor protection - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996

1 [Mechanism for investor protection. 32. The depository shall satisfy the Board that it has a mechanism in place to ensure that the interests of the persons buying and selling securities held in the depository are adequately protected.] ********* 1 Substituted by the SEBI (Depositories and Participants) (Second Amendment) Regulations, 2008, w.e.f. 8-8-2008. Prior to substitution, it read as under: Transfer to be effected only after payment. 32. The depository shall satisfy the Board that it has a mechanism in place to ensure that the interest of the persons buying and selling securities held in the depository are adequately protected and shall register the transfer of a security in the name of the transferee only after the depository is satisfied that payment for such transfer has been made.