Write notes on the following: Models of Depository

Immobilisation - Where physical share certificates are kept in vaults with the depository for safe custody. All subsequent transactions in these securities take place in book entry form. The actual owner has the right to withdraw his physical securities as and when desired. The immobilization of fresh issue may be achieved by issuing a jumbo certificate representing the entire issue in the name of depository, as nominee of the beneficial owners. Dematerialisation - No Physical scrip in existence, only electronic records maintained by depository. This type of system is cost effective and simple and has been adopted in India.