Write short notes on Investor Protection Fund of Depositories.

Investor Protection Fund of Depositories According to the Regulation 73 of the SEBI (Depositories and Participants) Regulations, 2018 every depository shall establish and maintain an Investor Protection Fund for the protection of the interest of beneficial owners. However, this Fund shall not be used by the depository for the purpose of indemnifying the beneficial owner. Every depository shall credit five percent or such percentage as may be specified by the SEBI, of its profits from depository operations every year to the investor Protection Fund. The contribution to and utilization of the Investor Protection Fund shall be in accordance with the norms specified by the SEBI.