Public Service Commission Act, 1997
R 385
Securities Services Act, 2004 (Act No. 36 of 2004)Chapter IV : Custody and Administration of SecuritiesGeneral provisions relating to custody and administration of securities46. Warranty |
| (1) | Every person, whether a client or participant, who deposits securities with a participant or central securities depository, as the case may be, is deemed to warrant that such person is entitled to deposit the securities deposited by that person and that any document or instruction relating to such securities and lodged or given by that person is genuine and correct in all respects and that person is deemed to have agreed to indemnify the participant or the central securities depository against any claim made upon the participant or central securities depository and against any loss suffered by the participant or central securities depository arising out of such deposit or breach of warranty. |
| (2) | A central securities depository is not deemed to have given a warranty or indemnity referred to in subsection (1). |
