SEBI Circular on Nomination for Mutual Fund Unit Holders – 15th June, 2022

  • SEBI, vide its Circular dated 15th June, 2022 to bring uniformity in practices across securities market provided Investors subscribing to  mutual  fund  units  on  or  after  1st August,  2022, the choice of :
  1. Providing  nomination  in  the  format  specified  in  fourth  schedule  of  SEBI (Mutual Funds) Regulations, 1996 (or)
  • Opting out of nomination through a signed Declaration form as provided in Annexure – A to this circular.
  • Further it is to be noted that, In case of physical option, the forms shall carry the wet signature of all the unit holder(s) and in case of online option, the  forms  shall  be  using  e-Sign  facility  recognized  under  Information Technology Act, 2000.
  • Other than that, All the AMCs are advised to set deadline as 31st March, 2023 for nomination / opting  out of nomination for all the existing individual unit  holder(s), failing which the folios shall be frozen for debits.
Link to the Circular:
https://www.sebi.gov.in/legal/circulars/jun-2022/nomination-for-mutual-fund-unit-holders_59743.html

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