(1) A depository shall be the registered owner of a security for the purposes of effecting transfer of ownership of that security on behalf of a depositor.

(2) A depository as a registered owner shall not have voting rights or any other rights in respect of securities held by it.

(3) A depositor of a book-entry security whose name appears in the record of depositors is entitled to rights, benefits, powers and privileges and to liabilities, duties and obligations in respect of the security as if the depositor were a member or debenture holder registered in an appropriate register maintained by the issuer of the security, in accordance with the Companies Code or any other law.

(4) Despite the Companies Code, a depositor is not entitled to attend a general meeting of a company, speak or vote at the meeting unless the depositor's name appears on the depository register forty-eight hours prior to the general meeting.

(5) A depository or its nominee company shall not have an interest in deposited securities registered in its name, or be a bare trustee.

(6) For the purpose of this section, "deposited security" does not include a security specified in the securities account as being in suspension under this Act or rules made by the Commission