The Securities and Exchange Board of India (SEBI) on March 28, 2023, issued the Extension of timelines for the Nomination for Mutual Fund Unit Holders.
The following has been stated namely: -
• The provisions mentioned in para 4 of SEBI circular SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated June 15, 2022, with regard to freezing of folios, shall come into force with effect from September 30, 2023, instead of March 31, 2023
• AMCs and RTAs shall encourage the unit holder(s) to fulfill the requirement for nomination/opting out of the nomination by sending a communication on fortnightly basis by way of emails and SMS to all such unit holder(s) who are not in compliance with the requirement of nomination. The communication shall provide guidance by which the unit holder(s) can provide a nomination or opt out of the nomination.
[Notification No. SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/47]
