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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

SEBI Extends Nomination Timelines for Mutual Fund Unit Holders

27-Sep-2023 | SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/160

Securities and Exchange Board of India (SEBI) has issued a Circular regarding the extension of timelines for nomination by mutual fund unit holders.

By virtue of this circular, the provision for freezing of folios, as mentioned in the SEBI Circular dated June 15, 2022, will now be enforced from January 01, 2024, instead of September 30, 2023.

Asset Management Companies (AMCs) and Registrar and Transfer Agents (RTAs) are required to proactively communicate with unit holders who have not complied with the nomination requirement. This communication will be sent via emails and SMS on a fortnightly basis, guiding unit holders on how to provide nomination or opt out of it.

Note- All other provisions of Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated June 15, 2022, and SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/105 dated July 29, 2022, will remain unchanged.

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