Section 53 in The Securities And Exchange Board Of India (Depositories And Participants) Regulations, 1996
53. Agreement by issuer.-
Every issuer whose securities have been declared as eligible to be held in dematerialised form in a depository shall enter into an agreement with the depository in accordance with the provisions of regulation 29:[Provided that no agreement shall be required to be entered into in case:-(i)the depository is the issuer of securities; or(ii)the State or the Central Government is the issuer of Government securities.]
