4 Deposit and Withdrawal of Securities
4.1 Securities Accepted for Deposit
The Depository shall accept for deposit those securities it designates to be Eligible Securities.
4.2 Eligible Securities
Eligible Securities shall comprise of securities which meet the following criteria:4.2.1 being of good delivery and where applicable, accompanied by duly executed and properly stamped instruments of transfer in favour of the Depository or its nominee;4.2.2 capable of being held on a fungible basis;4.2.3 are not subject to any restrictions on foreign ownership, unless otherwise agreed to by the Depository; and4.2.4 are not subject to any restrictions on transferability in a book-entry system, unless otherwise agreed to by the Depository.
4.3 Discretion for Accepting/Rejecting Securities
Notwithstanding that securities are designated as an Eligible Security under Rule 4.1, the Depository may refuse to accept any deposit of securities or may designate that any security is no longer an Eligible Security, upon giving reasons for such refusal or designation.
4.4 Deposit of Eligible Securities
Eligible Securities shall be deposited into a direct Securities Account maintained with the Depository or in the name of a Depository Agent (for itself or on behalf of a Sub-Account Holder).
4.5 Fungible Basis
Deposited Securities are held by the Depository on a fungible basis.
The Depositor shall be deemed to represent and warrant that he has the power and authority to make the deposit of the Deposited Securities.
4.7 Deemed Depositor and Securities Account
The Depository Agent shall be regarded as the Depositor in respect of all the Deposited Securities credited to all the Sub-Accounts maintained by it and shall be deemed to maintain a Securities Account in respect of the said Deposited Securities. The Depository shall be under no obligation to recognize, even where having notice thereof, the interest of any Sub-Account Holder in the Deposited Securities.
4.8 Credit of Securities
The Securities Account of the Depositor shall only be credited with the quantity of securities accepted for deposit after the securities have been registered in the name of the Depository or its nominee. The Depository shall send the Depositor a statement showing the quantity of securities credited to his Securities Account.
4.9 Agents and Service Providers
The Depository is authorized to appoint agents and service providers, including (without limitation) depositories, sub-custodians and custodians to safe-keep Deposited Securities, and to utilize clearance systems and may delegate to any such person the exercise of its rights, powers and discretions and/or the performance of any of its functions or obligations under these CDP Rules. The Depository shall use reasonable care in selecting and appointing such agents, service providers and utilizing clearance systems. The Depository shall have no responsibility for the performance / non-performance by any depository, subcustodian or custodian appointed in respect of Foreign Securities of any such exercise or performance of functions or obligations so delegated unless the Depository has failed to take reasonable care in their selection.
4.10 Registration of Deposited Securities
All Deposited Securities shall be registered in the name of the Depository or its nominee.
A Depositor may withdraw physical securities from the Depository against the credit balance in his Securities Account, upon payment of any applicable fees and stamp duties. The Depository shall lodge with the Issuer such documents as may be required to transfer the securities to the Depositor or its nominee.
4.12 No Obligation to Deliver Marketable Lots
The Depository shall be under no obligation to deliver to the Depositor or its nominee in marketable lots or the same securities as that deposited by the Depositor.