Image Source : FILE Sebi extends deadline so as to add nominees for demat account holders until December-end
Capital markets regulator Sebi on Tuesday prolonged the deadline by three months to December-end for current demat account holders to supply selection of nomination or formally decide out of nomination by way of a declaration type.
Additionally, submission of ‘selection of nomination’ for buying and selling accounts has been made voluntary by the regulator as a transfer in direction of ease of doing business. Earlier, the deadline for current eligible buying and selling and demat account holders to supply a selection of nomination was on or earlier than September 30.
The transfer is aimed toward serving to buyers to safe their belongings and cross them on to their authorized heirs. “Based on the representations obtained from the exchanges, depositories, brokers’ associations and varied different stakeholders, submission of ‘selection of nomination’ for buying and selling accounts has been made voluntary as a step in direction of ease of doing business.
“With respect to demat accounts, it has been decided to extend the last date for submission of ‘choice of nomination’ to December 31, 2023,” Sebi stated in a round. Further, Sebi has given time until December 31, for bodily safety holders for submission of PAN, nomination, contact particulars, checking account particulars and specimen signature for his or her corresponding folio numbers.
In July 2021, the Securities and Exchange Board of India (Sebi) requested all current eligible buying and selling and demat account holders to supply a selection of nomination on or earlier than March 31, 2022. Later, this was prolonged by yet one more 12 months until March 31, 2023 and once more until September 30, 2023.
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Source: www.indiatvnews.com
