Opening demat account for Association of Persons permitted for specified securities subject to conditions and member liability. SEBI permits an Association of Persons (AoP) to open a Demat account in its own name for holding units of mutual funds, corporate bonds and Government Securities only, subject to the AoP ensuring compliance with statutes governing its constitution, providing PAN details of the AoP and its Principal Officer, confirming no use for equity shares, and acknowledging that the Principal Officer is the legal representative and members are jointly and severally liable.
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.
Opening demat account for Association of Persons permitted for specified securities subject to conditions and member liability.
SEBI permits an Association of Persons (AoP) to open a Demat account in its own name for holding units of mutual funds, corporate bonds and Government Securities only, subject to the AoP ensuring compliance with statutes governing its constitution, providing PAN details of the AoP and its Principal Officer, confirming no use for equity shares, and acknowledging that the Principal Officer is the legal representative and members are jointly and severally liable.
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