23.1 All Participants and their clients must open and maintain accounts in the CSDR System, before being allowed to conduct any buying or selling activities on the BSE.

23.2 The CSU shall open and maintain in the Central Securities Registry securities accounts (»house accounts«) for the Participants, and enable them to open and maintain securities accounts for their clients (»client accounts«), over which the Participant shall have the authority to instruct the CSU, on behalf of the holder of securities, on any transactions and operations in the Central Securities Registry.

23.3 A Participant and his clients shall record on their securities account deposited securities, and reflect any transactions and balances of securities, pledges, and any other third-party rights on securities.