Mandatory PAN requirement for securities accounts: verification, limited-purpose accounts, exemptions, and account freezes until PAN produced. The circular mandates the Permanent Account Number (PAN) for cash market trading and BO accounts, prescribes custodial verification and certification of PAN for specified institutional clients, allows temporary accommodations (including limited purpose BO accounts for certain NRIs/PIOs and acceptance of PAN allotment letters), exempts certain UN/multilateral entities and Sikkim residents subject to documentary proof, and directs depositories and exchanges to amend rules, communicate changes, and freeze accounts that fail to produce PAN within prescribed periods.
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.
Mandatory PAN requirement for securities accounts: verification, limited-purpose accounts, exemptions, and account freezes until PAN produced.
The circular mandates the Permanent Account Number (PAN) for cash market trading and BO accounts, prescribes custodial verification and certification of PAN for specified institutional clients, allows temporary accommodations (including limited purpose BO accounts for certain NRIs/PIOs and acceptance of PAN allotment letters), exempts certain UN/multilateral entities and Sikkim residents subject to documentary proof, and directs depositories and exchanges to amend rules, communicate changes, and freeze accounts that fail to produce PAN within prescribed periods.
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