Write short notes on the following : (b) Custodians of Securities

A custodian is a person who carries on or propose to carry on the business of providing custodial services to the client. The custodian keeps the custody of the securities of the client. The custodian also provides incidental services such as maintaining the accounts of securities of the client, collecting the benefits or rights accruing to the client in respect of securities. Custodians of Securities carrying the following activities: Administrate and protect the assets of the clients. Open a separate custody account and deposit account in the name of each client. Record assets. Conduct registration of securities.