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Home > Company Registration > Contact Us

SEBI HAS AMENDED THE PROCEDURE FOR TRANSMISSION OF SECURITIES

sebi-has-amended-the-procedure-for-transmission-of-securities 
 
SEBI has issued a circular in exercise of powers under Section 11(1) of the SEBI Act, 1992 to modify the clause 2 of the Annexure - A of the circular no. CIR/MIRSD/10/2013 dated October 28, 2013. This move is pursuant to investors requests and complaints with regard to clarification of certain points of the earlier circular.
 
“For securities held in single name without a nominee, an affidavit from all the legal heirs made on non-judicial stamp paper and claim of legal ownership to the securities might be sought”, Sebi said in a circular.
 
The amendment simplifies the procedure for transmission of securities from the account of a deceased person to nominee or legal heir, the board also had earlier raised the threshold limit for such transfers in demat format from Rs 1 lakh to Rs 5 lakh.
 
The transmissions process requires an application in prescribed format and supporting documents as proof for death of the holder.
 
For value of securities over Rs 2 lakh, certificate letter of Administration or probate of will or succession or court decree is required.
 
The circular is available on
 
 
 
 
 
Keywords : sebi has amended the procedure for transmission of securities

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