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Securities Services Act, 2004 (Act No. 36 of 2004)

Chapter IV : Custody and Administration of Securities

General provisions relating to custody and administration of securities

44. Delivery of securities

 

Subject to sections 41 and 43, the owner of an interest in securities held by a participant in a securities repository or a participant holding an interest in securities in a central securities repository, as the case may be, is at all times entitled, on written request for withdrawal, to delivery, within a reasonable time, by the participant or central securities depository concerned, of a certificate or written instrument evidencing the same number of securities, or securities of the same nominal value and of the same kind as the interest in securities held on such owner or participant’s behalf, as long as such owner or participant has a sufficient unencumbered credit balance of those securities in that owner’s securities account or in that participant’s central securities account, as the case may be.