The Securities and Exchange Board of India (SEBI) on July 29, 2022 has issued Extension of timelines for Nomination for Mutual Fund Unit Holders.
Based on the representation received from AMFI, the following has been decided namely: -
• Para 1 of the Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/8 will be read as “Investors subscribing to mutual fund units on or after October 1, 2022, shall have the choice of:”
• Para 2 of the above stated Circular will be read as “AMC shall provide an option to the unit holder(s) to submit either the nomination form or the declaration form for opting out of nomination in physical or online as per the choice of the unit holder(s). In case of physical option, the forms shall carry the wet signature of all the unit holder(s). In case of online option, instead of wet signature(s) of all the unit holder(s), AMCs shall validate the forms:
1. Using e-Sign facility recognized under Information Technology Act, 2000; or
2. Through two factor authentication (2FA) in which one of the factor shall be a One-Time Password sent to the unit holder at his/her email/phone number registered with the AMC”
[Notification No. SEBI/HO/IMD/IMD-I DOF1/P/CIR/202]
