Unit ko samjho · NISM Series III-A
Depositories Act 1996
3 questions is unit mein
Sawaal aur jawaab English mein hain, kyunki NISM ka exam paper bhi English mein hota hai.
Is unit mein kya hai
- For securities held through a depository, who is entitled to their ownership benefits and related liabilities?
- What does fungibility mean for equivalent securities of the same class held in dematerialised form?
- An investor wants to create a pledge over dematerialised securities. Which route is consistent with the depository framework?
Zaroori ideas
Practice bank se · 1
For securities held through a depository, who is entitled to their ownership benefits and related liabilities?
The beneficial owner has the rights, benefits and liabilities attached to the securities under section 10. Remember: Depository records distinguish the registered-owner mechanism from beneficial ownership.
Hint Common mistake: Assuming the depository receives the investor’s dividends and voting rights for itself. Distinguish the investor’s economic rights from the depository’s transfer-related role.
III-A-119Practice bank se · 2
What does fungibility mean for equivalent securities of the same class held in dematerialised form?
Fungibility means equivalent units are interchangeable rather than tied to an individual physical certificate identity. Remember: Fungibility applies to equivalent units, not to every security in a demat account.
Hint Common mistake: Assuming fungibility makes shares of unrelated companies interchangeable. Keep the comparison within equivalent securities of the same class.
III-A-120Practice bank se · 3
An investor wants to create a pledge over dematerialised securities. Which route is consistent with the depository framework?
The investor should use the prescribed depository-participant process so the pledge is properly recorded. Remember: A dematerialised pledge needs the prescribed recorded process.
Hint Common mistake: Assuming possession of an account statement is enough to create a recorded pledge. Think about how the security interest is recorded in the electronic holding system.
III-A-121