PAN as sole identification mandates KYC compliance, restricts credits to nonverified demat accounts and strengthens demat safeguards. The Master Circular consolidates SEBI directions prescribing PAN as the primary identification for BO accounts with alternative PoI/PoA and narrow exemptions, mandates DP verification and customer due diligence, forbids specified account opening and custody charges, requires pro rata refund of prepaid AMC on transfer/closure, restricts credits to PAN noncompliant accounts, and prescribes timelines, penalties and operational safeguards for transfer, settlement (T+2 schedule), DIS handling, grievance disclosures and preservation of records.
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.
PAN as sole identification mandates KYC compliance, restricts credits to nonverified demat accounts and strengthens demat safeguards.
The Master Circular consolidates SEBI directions prescribing PAN as the primary identification for BO accounts with alternative PoI/PoA and narrow exemptions, mandates DP verification and customer due diligence, forbids specified account opening and custody charges, requires pro rata refund of prepaid AMC on transfer/closure, restricts credits to PAN noncompliant accounts, and prescribes timelines, penalties and operational safeguards for transfer, settlement (T+2 schedule), DIS handling, grievance disclosures and preservation of records.
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