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Home India Securities and Exchange Board of India Gazette In exercise of the powers conferred...

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act,

Date: 2nd December 2024
Category: Extra Ordinary
New Delhi

Read or download the official PDF of this gazette notification issued by the Securities and Exchange Board of India on 2nd December 2024. Classified under Extra Ordinary.

Official Gazette Notification Text

Official Transcript

रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-एम.एच.-अ.-02122024-259089 xxxGIDHxxx CG-MH-E-02122024-259089 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार से प्रकाजित PUBLISHED BY AUTHORITY सं. 959] िई ददल्ली, िजििार, ििम् बर 30, 2024/अग्रहायण 9, 1946 No. 959] NEW DELHI, SATURDAY, NOVEMBER 30, 2024/AGRAHAYANA 9, 1946 भारतीय प्रजतभूजत और जिजिमय...

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  • This gazette notification introduces the Securities and Exchange Board of India (Depositories and Participants) (Third Amendment) Regulations, 2024. It amends the existing 2018 regulations by adding a new regulation 60A related to nomination facilities for beneficial owners of securities held with depositories.
  • A new regulation 60A is added to Chapter VII of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.
  • Regulation 60A mandates that every participant (depository participant) must provide beneficial owners with the option to nominate a person to whom their securities will be transferred upon their death.
  • Participants must also provide an option for beneficial owners to nominate a person who can conduct transactions on their behalf in case of incapacitation.
  • For joint account holders, all beneficial owners can jointly nominate a person to whom the securities will be transferred upon the death of all joint holders.

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