The National Stock Exchange (NSE) on May 16, 2023, issued a notification regarding the Nomination for Eligible Trading and Demat Accounts
The following has been stated namely: -
• This has a reference to SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/42 dated March 27, 2023, and Exchange circular NSE/ISC/56153 dated March 28, 2023, wherein it has been stated that the provisions mentioned in para 7 of SEBI circular dated July 23, 2021, read with para 3 (a) of SEBI circular dated February 24, 2022, with regard to freezing of accounts shall come into force with effect from September 30, 2023.
• The Trading Members are required to encourage their clients to update ‘choice of nomination’ by sending a communication on a fortnightly basis by way of emails and SMS to all such UCCs / Demat accounts wherein the ‘choice of nomination’ is not captured. The communication shall provide guidance through which the client can provide his/her ‘choice of nomination’.
• The Trading Members are requested to ensure that the choice of Nomination has been procured from all their clients and the same has been updated in the UCC database of the Exchange on or before September 30, 2023, failing which such clients shall not be allowed to trade on the Exchange.
• The Trading Members are advised to take note and comply with the above guidelines.
[Notification No. NSE/ISC/56728]
