The Securities and Exchange Board of India (SEBI) on November 30, 2024, issued the Securities and Exchange Board of India (Depositories and Participants) (Third Amendment) Regulations, 2024, to further amend the SEBI (Depositories and Participants) Regulations, 2018.
This shall come into force on December 02, 2024.
The following has been stated namely: -
• In Chapter VII after regulation 60, a new regulation 60A shall be inserted, namely: “Nomination”, it states that participants shall allow beneficial owners to nominate individuals for securities transfer upon death or incapacitation, with joint owners nominating collectively, and depositories not liable for actions based on such nominations.
[Notification no. - SEBI/LAD-NRO/GN/2024/213]
