Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report  ||  Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act  ||  SC Holds Landowners Who Accept Compensation Settlements Cannot Later Seek Statutory Benefits  ||  Supreme Court: Endless Investigations and Long Delays in Chargesheets Can Justify Quashing  ||  Delhi HC: Arbitrator Controls Evidence and Appellate Courts Cannot Reassess Facts  ||  Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint  ||  Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint  ||  Delhi HC: Economic Offender Cannot Seek Travel Abroad For Medical Treatment When Available In India  ||  SC: Governors and President Have No Fixed Timeline To Assent To Bills; “Deemed Assent” is Invalid  ||  SC: Assigning a Decree For Specific Performance of a Sale Agreement Does Not Require Registration    

Extension of timelines for providing 'choice of nomination' in eligible demat accounts and mutual fund folios- (Securities and Exchange Board of India) (27 Dec 2023)

MANU/SSMD/0052/2023

Capital Market

1. SEBI, vide circular nos. SEBI/HO/MIRSD/POD-1/CIR/2023/158 dated September 26, 2023 and SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/160 dated September 27, 2023, extended the last date for submission of 'choice of nomination' for demat accounts and mutual fund folios respectively to December 31, 2023.

2. Based on representations received from the market participants, for ease of compliance and investor convenience, it has been decided to extend the last date for submission of 'choice of nomination' for demat accounts and mutual fund folios to June 30, 2024.

3. Depository Participants, AMCs and RTAs shall encourage the demat account holders/ mutual fund unit holders to fulfil the requirement for nomination/opting out of nomination by sending a communication on fortnightly basis by way of emails and SMS to all such demat account holders/ mutual fund unit holders who are not in compliance with the requirement of nomination. The communication shall provide guidance to provide nomination or opting out of nomination.

4. Stock Exchanges, Depositories, AMCs, RTAs and Listed Companies are further advised to:

a) take necessary steps to implement the provisions of this circular, including making necessary amendment to the relevant bye-laws / business rules / regulations / operational instructions, as the case may be;

b) bring the provisions of this circular to the notice of their respective constituents and also disseminate this circular on their websites;

c) communicate to SEBI, the status of the implementation of the provisions of this circular; and

d) monitor the compliance of this circular.

5. All other provisions related to requirement of Nomination as provided in SEBI Master Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 dated May 19, 2023 for Mutual Funds and SEBI Master Circular No. SEBI/HO/MRD/MRD-PoD- 2/P/CIR/2023/166 dated October 06, 2023 for Depositories shall remain unchanged.

6. This circular is issued in exercise of powers conferred by Section 11(1) of the Securities and Exchange Board of India Act, 1992, read with Section 19 of the Depositories Act, 1996 and Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Tags : EXTENSION   TIMELINES   DEMAT ACCOUNTS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved