In partial modification, Subsection 1.2(a) of Section 1.4 of the Master Circular for Depositories dated February 05, 2021 shall be replaced with the following:
“ In the event of death of Karta of HUF, the name of the deceased Karta in the Beneficial Owner (BO) account shall be replaced by the new Karta appointed by the member of the HUF who in such a case shall be senior most member of the family ”
Further, footnote 31 of Section 1.4 of the Master Circular on “Opening of demat account in case of HUF” shall be replaced with:
“Reference: SEBI letter and 25740/1 dated September 14, 2016 and SEBI letter and 4947/2018 dated February 14, 2018 ”
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