Write notes on the following: (iv) Eligibility for Depository Services

Any company or other institution to be eligible to provide Depository Services must: Be formed and registered as a company under the Companies Act, 2013. Be registered with SEBI as a depository under the SEBI Act, 1992. Have framed bye-laws with the previous approval of SEBI. Have one or more participants to render depository services on its behalf. Have adequate systems and safeguards to prevent manipulation of records and transactions to the satisfaction of SEBI. Comply with the Depositories Act, 1996, and SEBI (Depositories and Participants) Regulations, 1996. Meet eligibility criteria in terms of constitution, network, etc.