Section 149. Rectification of record of depositors

(1) Notwithstanding anything in this Act or any written law, no order shall be made by the Court for the rectification of the record of depositors except in the circumstances and subject to the conditions specified in subsection (2).

(2) The Court may award to the depositor referred to in paragraph (a) or any person who would have been entitled to be registered as having the title to such securities, as the case may be, on such terms as the Court deems to be equitable or make such other order as the Court deems fit, including an order for the transfer of such securities to such depositor or person, if it is satisfied that—

(a) a depositor did not consent to a transfer of any securities; or

(b) a depositor should not have been registered as having title to any securities.