9. Securities in depositories to be in fungible form.- (1) All securities held by a depository shall be dematerialised and shall be in a fungible form. *[(2) Nothing contained in sections 153, 153A, 153B, 187B, 187C and 372 of the Companies Act, 1956 (l of 1956), shall apply to a depository in respect of securities held by it on behalf of the beneficial owners.]
*[Substituted by Act 8 of 1997, section 22, for sub-section (2) (w.e.f. 15-1-1997)]
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