Published by: Vivek Dubey
SEBI sets a deadline of September 30, 2023, for all individual demat account holders and mutual fund investors to nominate their securities. Don’t miss out on this crucial mandate.
Nominate your demat accounts, mutual funds by September 30, 2023, as per SEBI’s mandate.
It ensures smooth transfer of investments to beneficiaries, avoiding legal hassles.
Nominee must complete KYC, provide proof of death, and other documents.
Only individual demat account holders can nominate. Non-individual entities can’t.
They can nominate, but securities transmit to survivors unless a nominee exists.
NRIs can nominate directly, minors can’t nominate directly or via guardian.
Only individuals can be nominees. Non-individual entities can’t be nominees.
Parents, spouse, siblings, children or any individual can be a nominee.
Up to three nominees allowed per demat account with specified proportions.
Investors can change nominees anytime via a form or online process.
Submit or withdraw nominations via two-factor authentication on trading platforms.
Mobile number, e-mail ID and ID details of the nominee/guardian are optional.
To be signed by the account holder. Can be filled online using e-sign.
Mention nominee details during the process or later via a form.
Nomination can be done during initial application or later via a form.
If investors miss the nomination deadline, SEBI may freeze debits from their holdings. This means they won't be able to withdraw from mutual funds or use their demat accounts for trading.