Section 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.