代写留学作业|印度证券投资担保制度 [3]
论文作者:www.51lunwen.org论文属性:作业 Assignment登出时间:2016-12-13编辑:cinq点击率:7223
论文字数:4000论文编号:org201612131617082534语种:英语 English地区:英国价格:免费论文
关键词:代写留学作业证券投资担保制度
摘要:本文是代写留学作业范文,主要是内容是探讨印度经过63年的独立发展至今,在现有的金融机构结构下的证券投资担保制度的相关问题。
s in all instruments. Holding investments in equity and debt instruments in a single account is also another advantage of the depository system.
Features of Indian Depository System: 印度存托凭证制度的特点:
Dematerialization: There are two models for depository system across the world-dematerialization and immobilization. India has adopted the dematerialization model. India provides for a competitive multi-depository system. There can be various entities providing depository services.eg (NSDL and CDSL).The model adopted in India provides only for Dematerialization of securities. Dematerialization is the process of converting the physical form of shares into an electronic form and in short called Demat. Dematerialization of securities occurs when securities issued in physical form is destroyed and an equivalent number of securities are credited into the beneficiary owner's account.
The depositories can provide their services to investors through their agents called Depository Participants. These agents are appointed subject to the conditions prescribed under Securities and Exchange Board of India (Depositories and Participants) Regulations,1996 and other applicable conditions. The participants and investors get their respective ID's which has a unique identification in the depository system. Any number of depository accounts can be opened.
After opening an account with the Depository Participant the investor should surrender the physical certificates held in his name to a depository participant. These certificates will be sent to the respective companies where they will be cancelled after dematerialization and will credit the investors account with the Depository Participant. The securities on dematerialization will appear as balances in the depository account. These balances can be transferred like the shares held in physical form. The securities in the Demat can again be converted into physical form which is called as dematerialization.
Dematerialization of shares is optional and the investor can hold shares in the physical form, however the investor will have to demat the shares if he wishes to sell or purchase the shares through stock exchanges.
Immobilization of securities is done by storing or lodging the physical security certificates with an organization that acts as a custodian - a securities depository. All subsequent transactions in such immobilized securities take place through book entries. The actual owners have the right to withdraw the physical securities from the custodial agent whenever required by them. In the case of IPO, a jumbo certificate is issued in the name of the beneficiary owners based on which the depository gives credit to the account of beneficiary owners.
Fungibility: Section 9 of the Depositories Act, 1996 states that securities in depositories should be in fungible form. In the depository system, the securities dematerialized are not identified by distinctive numbers or certificate numbers as in the physical environment. Thus all securities in the same class are identical and interchangeable. For example, all equity shares in the class of fully paid up shares are interchangeable.
Registered Owner/ Beneficial Owner: In the depository system, the ownership of securities dematerialized is bifurcated between Registered Owner and Beneficial Owner. For the securities dematerialized, NSDL is the R
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