s 81SI Depository or nominee deemed to be bare trustee
81SI.—(1) The Depository or its nominee is deemed to hold the book‑entry securities deposited with it as a bare trustee for the collective benefit of depositors.[36/2014] (2) Subject to subsections (3) and (4), a depositor does not have any right to specific book‑entry securities deposited with the Depository or its nominee but is entitled to a pro rata share computed on the basis of the book‑entry securities credited to one or more accounts in the depositor’s name.[36/2014] (3) A depository agent is deemed to hold book‑entry securities deposited in its name with the Depository or its nominee, on behalf of any sub‑account holder, as a bare trustee.[36/2014] (4) A sub‑account holder does not have any right to specific book‑entry securities deposited with the Depository or its nominee but is entitled to a pro rata share computed on the basis of the book‑entry securities credited to one or more accounts maintained by the sub‑account holder with a depository agent.[36/2014]