SEBI Update: Nomination for Eligible Trading and Demat Accounts – Extension of timelines for existing account holders.

SEBI vide its Circular dated 27^th March 2023 issued a Circularfor All Recognized Stock Exchanges, All Recognized Depositories Stock Brokers (Trading Members) through Recognized Stock Exchanges Depository Participants through Depositories.

The circular states :

Earlier SEBI asked all existing eligible holder and demat account holder to provide a choice of nomination on or before March 31^st 2022, failing which the trading and demat account would be frozen for debits.

However, SEBI in a circular dated February 24^th, 2022, had extended this deadline by one year to March 31^st, 2023.

Now, the deadline for existing eligible holder and demat account holder to nominate a beneficiary for their accounts to September 30^th ,2023 which is extended by another 6 months.

This circular shall come into force with effect from 27^th March , 2023.

Link:https://www.sebi.gov.in/legal/circulars/mar-2023/nomination-for-eligible-trading-and-demat-accounts-extension-of-timelines-for-existing-account-holders_69391.html