Section 216 in The Companies (Amendment) Act, 2000
216. Insertion of new section 605A.- After section 605 of the principal Act, the following section shall be inserted, namely:-" 605A. Offer of Indian Depository Receipts.- Notwithstanding anything contained in any other law for the time being in force, the Central Government may make rules applicable for-(a) the offer of Indian Depository Receipts;
(b)the requirement of disclosures in prospectus or letter of offer issued in connection with Indian Depository Receipts;(c)the manner in which the Indian Depository Receipts shall be dealt in a depository mode and by custodian and underwriters;(d)the manner of sale, transfer or transmission of Indian Depository Receipts, by a company incorporated, or to be incorporated outside India, whether the company has or has not been established or, will or will not establish any place of business in India.".
