SEBI simplifies procedure and standardization of formats of documents for transmission of securities pursuant to amendments to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to SEBI (LODR) (Fourth Amendment) Regulations, 2022 dated April 25th, 2022, SEBI has issued circular no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/65 to Simplify procedure and standardization of formats of documents for transmission of securities.
The LODR Regulations as amended inter alia enhanced the monetary limits for simplified documentation for transmission of securities, allowed ‘Legal Heirship Certificate or equivalent certificate’ as one of the acceptable documents for transmission and provided clarification regarding acceptability of Will as one of the valid documents for transmission of securities. Pursuant to the notification of the LODR Amendment Regulations, the said Circular has been issued to specify the formats of various documents which are required to be furnished for the processing of transmission of securities.
For ease of reference, the circular contains a ready reckoner listing out the documents required for transmission of securities, in case of demise of the sole holder. The Operational Guidelines for processing investor’s service request for the purpose of transmission of securities are also provided.
The revised documentation requirements in case of transmission of securities are as below:
Where the securities are held in a single name with a nomination, nominee shall be informed about the procedure to be followed for the claim on the receipt of the intimation of death of the security holder.
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