Section 11: Deposit of securities and coupons.

(1) The Minister may, by order, require every person by or for whom a security or certificate of title to a security specified in the order is held in Nigeria to place the security or certificate of title, as the case may be, in the custody of an authorised depositary. Every security or certificate of title deposited under this subsection may be withdrawn with the consent of the Minister on such conditions as he may impose.
(2) No authorised depositary shall, without the permission of the Minister, part with any security or certificate of title affected by an order under subsection (1) of this section, save to or to the order of another authorised depositary.
(3) No authorised depositary shall, without the consent of the Minister-
(a) accept or part with any security or certificate of title affected by an order under subsection (1) of this section whereby the security or certificate of title may be transferred into the name of a person resident outside Nigeria; or
(b) do any act whereby the authorised depositary recognises or gives effect to the substitution of another person as the person from whom the authorised depositary directly receives instructions relating to the security or certificate of title, unless the person previously instructing the authorised depositary and the person substituted for that person were, immediately before the substitution, resident in Nigeria.
(4) Except with the permission of the Minister, no person shall buy, sell or transfer any security or certificate of title affected by an order under subsection (1) of this section unless the security or certificate of title has been deposited as prescribed by an order.
(5) No capital moneys, interest or dividends in respect of any security or certificate of title affected by an order under subsection (1) of this section shall, without the permission of the Minister, be paid in Nigeria except to or to the order of the authorised depositary having custody of the security
(6) For the purposes of this section "security" includes coupons.