SEBI Mandates Every Depository Participant to Provide Nomination Facility to Beneficial Owners
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- Last Updated on 4 December, 2024
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Notification No. F. No. SEBI/LAD-NRO/GN/2024/213; Dated: 28.11.2024
SEBI has notified the SEBI (Depositories and Participants) (Third Amendment) Regulations, 2024. A new regulation 60A w.r.t nomination has been inserted. It states that every participant must provide an option to the beneficial owner to nominate a person to whom the securities held by him must vest in the event of his death. Further, the depository and participant must not be liable for any action taken based on nomination made by the beneficial owner.
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