Mutual fund nomination rules standardise investor choice, online e-sign submission, and folio freeze for non-compliance. Uniform nomination requirements were prescribed for eligible mutual fund unit holders, allowing investors to either appoint a nominee in the prescribed form or opt out through a signed declaration. AMCs must provide physical or online submission, with wet signatures for physical forms and e-Sign for online forms, and maintain systems for confidentiality and safety of client records. Existing individual unit holders were advised to complete nomination or opt out by 31 March 2023, failing which folios would be frozen for debits.
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Provisions expressly mentioned in the judgment/order text.
Mutual fund nomination rules standardise investor choice, online e-sign submission, and folio freeze for non-compliance.
Uniform nomination requirements were prescribed for eligible mutual fund unit holders, allowing investors to either appoint a nominee in the prescribed form or opt out through a signed declaration. AMCs must provide physical or online submission, with wet signatures for physical forms and e-Sign for online forms, and maintain systems for confidentiality and safety of client records. Existing individual unit holders were advised to complete nomination or opt out by 31 March 2023, failing which folios would be frozen for debits.
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