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of <h1>New Nomination Rules for Demat and Mutual Fund Accounts Under Revised Regulations from March 2025</h1> The regulatory authority has revised nomination norms for demat accounts and mutual fund folios to prevent unclaimed assets. Key provisions include mandatory nomination for single holdings, optional for joint holdings, and transmission of assets to surviving holders or nominees upon death. Nominees act as trustees for legal heirs, with specific rules if nominees predecease the investor. Investors may nominate up to ten persons, providing detailed personal identifiers. Nominees can be empowered to operate accounts if the investor is incapacitated, subject to verification and restrictions on transactions. Transmission to nominees requires minimal documentation, excluding affidavits or indemnities, and regulated entities are discharged upon such transmission. Entities must maintain records, provide acknowledgments, and allow unlimited nomination changes. The circular mandates standardized nomination forms, online and offline submission options with authentication, and reporting requirements for implementation. These measures aim to streamline nomination processes, enhance investor protection, and ensure uniformity across the securities market, effective March 1, 2025.
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