(1) A person shall not deal in book-entry securities unless the person holds a securities account with a central securities depository.

(2) A depository may establish different types of securities accounts for different classes of persons or securities

(3) An entry in a securities account in respect of a transaction shall

(a) in the case of a securities account established and maintained directly by a central securities depository be considered to have been made by, or with the authority of, the central securities depository; and

(b) in the case of a securities account established through, and maintained by a depository agent on behalf of a depository, be considered as having been made by, or with the authority of, the depository agent.