Section 11:
consolidated text (as at 2007). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
11. Depository to be discharged from liability if acting on instructions
(1) Subject to any regulations made under this Act, the CDS, if acting in
good faith and without negligence, shall not be liable for conversion or for
any breach of trust or duty where the CDS has, in respect of direct entries in
accounts maintained by it, made entries regarding the deposited securities,
or transferred or delivered the securities, according to the instructions of a
depositor or participant notwithstanding that the depositor or participant had
no right to dispose of, or take any other action in respect of, the securities.
[Issue 1] S8 – 8
Revised Laws of Mauritius
(2) The CDS or a participant, if acting in good faith and without negligence, shall be fully discharged of its obligations to the depositor by the
transfer or delivery of deposited securities on the instructions of the
depositor.