Nomination compliance timeline extended for trading and demat accounts, with freezing provisions now deferred and reporting duties strengthened. The timeline for existing eligible trading and demat account holders to furnish nomination details or a declaration opting out of nomination has been extended, and the freezing provisions will now take effect from September 30, 2023 instead of March 31, 2023. Stock brokers and depository participants must send fortnightly email and SMS communications to clients where nomination details are not captured, while stock exchanges and depositories must amend relevant rules, disseminate the circular, and submit monthly reports on implementation efforts.
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Nomination compliance timeline extended for trading and demat accounts, with freezing provisions now deferred and reporting duties strengthened.
The timeline for existing eligible trading and demat account holders to furnish nomination details or a declaration opting out of nomination has been extended, and the freezing provisions will now take effect from September 30, 2023 instead of March 31, 2023. Stock brokers and depository participants must send fortnightly email and SMS communications to clients where nomination details are not captured, while stock exchanges and depositories must amend relevant rules, disseminate the circular, and submit monthly reports on implementation efforts.
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