Section 7: Effect of book‑entry transfer on transferee — Central Depositories Act, 1997

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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7. Effect of book‑entry transfer on transferee.—If a transfer of bookentry securities takes place at a particular time in accordance with the provisions of section 6— (a) the transferee shall be deemed to have agreed to have accepted the transfer of such book‑entry securities subject to the terms and conditions on which the transfer or held them immediately before the time of such transfer; and (b) the transferee shall be deemed to have agreed to become a member of the issuer and to be bound by the issuer's charter, statute or Memorandum and Articles of Association, as the case may be.

Effective date: 1997-01-01

Related sections

Section 6: Transfers under book‑entry system Section 8: Central depository discharged from liability if acting on instructions Section 5: Central depository not to be a member of an issuer, etc Section 9: Central depository to supply information Section 4: Central depository system Section 10: Bonus issue by an issuer

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