A depository shall

(a) facilitate the admittance of securities into the central securities depository;

(b) facilitate the deposit and withdrawal of certificates in respect of securities admitted in the central securities depository;

(c) facilitate the dematerialisation of securities accounts;

(d) open, maintain and close securities accounts;

(e) establish a proper and efficient system for the verification, inspection, identification and recording of book-entry securities with the central depository;

(f) facilitate the efficient transfer of book-entry securities;

(g) facilitate the efficient process of cash payment in exchange for securities;

(h) facilitate the registration of dealings in book-entry securities;

(i) operate securities accounts for the handling of book entry securities and cash;

(j) designate one or more banks as a settlement partner for the settlement of funds in respect of transactions cleared through a depository;

(k) facilitate the efficient collection of fees and other charges that may be required;

(l) guard against falsification of any records or accounts required to be kept or maintained under this Act; and

(m) perform other functions that are necessary to ensure orderly dealings in admitted or dematerialised securities, or as the Commission may from time to time prescribe.