SC Slams Akola Cops For Dereliction, Orders Formation of SIT With Hindu and Muslim Officers  ||  Delhi HC Rules Employed Wife Deserves Maintenance Matching Marital Standard of Living  ||  Delhi HC Restrains Unauthorized Use of Abhishek Bachchan’s Name, Image, & Voice  ||  J&K&L HC: Custody Can't Favor Either Parent Solely Based On Gender; Constitution Forbids Bias  ||  Kerala HC Rejects Anticipatory Bail to IT Firm Owner in Sexual Harassment Case Citing Probe Anomalies  ||  SC Criticizes Punjab National Bank for Settling With Borrower Post-Auction of Secured Property  ||  Delhi HC: GST Officials Need Lawyer’s Consent or Presence to Access Their Computer Devices  ||  Kerala HC Paves Way for Global Ayyappa Sangamam, Directs Steps to Uphold Sabarimala's Sanctity  ||  Delhi HC: No Certification for Films That Mock Religions or Incite Hate in a Secular Society  ||  Bombay HC: Missing a Few Hearings Isn't Enough to Dismiss a Case for Non-Prosecution    

Nomination for Mutual Fund Unit Holders - Extension of timelines- (Securities and Exchange Board of India) (27 Sep 2023)

MANU/SMFD/0018/2023

Capital Market

1. SEBI vide Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated June 15, 2022 read with SEBI Circular No. SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/105 dated July 29, 2022, and SEBI Circular No. SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/47 dated March 28, 2023 prescribed the requirement for nomination/ opting out of nomination for all the existing individual unit holder(s) holding mutual fund units either solely or jointly, by September 30, 2023, failing which the folios shall be frozen for debits.

2. Based on representations received from the market participants, it has been decided that the provision mentioned at para 4 of SEBI Circular dated June 15, 2022 with regard to freezing of folios, shall come into force with effect from January 01, 2024 instead of September 30, 2023.

3. AMCs and RTAs shall encourage the unit holder(s) 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 unit holder(s) who are not in compliance with the requirement of nomination. The communication shall provide guidance by which the unit holder(s) can provide nomination or opt out of nomination.

4. All other provisions of Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated June 15, 2022 and SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/105 dated July 29, 2022 shall remain unchanged.

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

Tags : MUTUAL FUND   UNIT HOLDERS   TIMELINES  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved