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 (1 of 1956), shall apply to a depository in respect of securities held by it on behalf of the beneficial owners.
