Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2002

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) the Securities and Exchange Board hereby makes the following Regulations, namely:- 1. These Regulations may be called the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2002. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In Chapter V, after regulation 29, a new regulation 29A shall be inserted as follows - "Nomination 29A.(1) The asset management company shall provide an option to the unit holder to nominate, in the manner as specified in Fourth Schedule, a person in whom the units held by him shall vest in the event of his death. (2) Where the units are held b....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... furnished in case the Nominee is a minor) *The Nominee is a minor whose guardian is:………………………………………………………………………………………. Address of Guardian:…………………………………………………………………………………………………………………………….....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ip;…………………………… Name:………………………………………………………………… Address:……………………………………………………………. Date:………………………………………………………………… 2) Signature:…………&he....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f Hindu Undivided Family or a Power of Attorney holder. A non-resident Indian can be a Nominee subject to the exchange controls in force, from time to time. 4. Nomination in respect of the units stands rescinded upon the transfer of units. 5. Transfer of units in favour of a Nominee shall be valid discharge by the asset management company against the legal heir. 6. The cancellation of nomination can be made only by those individuals who hold units on their own behalf singly or jointly and who made the original nomination. 7. On cancellation of the nomination, the nomination shall stand rescinded and the asset management company shall not be under any obligation to transfer the units in favour of the Nominee." [F.No. SEBI/LGL/10236/....