Transmission of securities procedures standardized; exchanges and depositories must amend rules and comply within the prescribed period. The circular mandates amendment of prior transmission guidance and directs stock exchanges and depositories to update listing agreements, byelaws and rules to implement simplified transmission procedures. Annexure A sets documentary requirements for physical securities transmission: nominee transmission requires a signed request, attested death certificate and PAN (with limited substitution); transmission without a nominee requires an affidavit of legal heirs and, depending on holding value, either succession documentation or specified alternatives such as NOC(s) and an indemnity bond.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transmission of securities procedures standardized; exchanges and depositories must amend rules and comply within the prescribed period.
The circular mandates amendment of prior transmission guidance and directs stock exchanges and depositories to update listing agreements, byelaws and rules to implement simplified transmission procedures. Annexure A sets documentary requirements for physical securities transmission: nominee transmission requires a signed request, attested death certificate and PAN (with limited substitution); transmission without a nominee requires an affidavit of legal heirs and, depending on holding value, either succession documentation or specified alternatives such as NOC(s) and an indemnity bond.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.