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of SEBI has authorized the opening of demat accounts for Association of Persons (AoP) to hold specified securities in dematerialized form, effective June 02, 2025. AoPs can maintain demat accounts for mutual fund units, corporate bonds, and Government Securities, subject to statutory compliance. The framework requires PAN verification of both AoP and Principal Officer, with members bearing joint and several liability. AoPs must confirm adherence to permitted securities holding and explicitly prohibits equity share subscription. Principal Officers serve as legal representatives in disputes. The directive amends the Master Circular for Depositories dated December 03, 2024, adding paragraph 1.2.6.A, exercising powers under SEBI Act 1992 and Depositories Act 1996.
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