Notices
Notice No20240711-6Notice Date11 Jul 2024
CategoryTradingSegmentMutual Fund
SubjectNomination for Mutual Fund Unit Holders – Update
Content

This is with reference to Notice No. 20240611-52 dated June 11, 2024 regarding Nomination for Mutual Fund Unit Holders.

SEBI vide its circular no. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2024/29 dated April 30, 2024, for Nomination for Mutual Fund Unit Holders, provided exemption of nomination for jointly held folios.

Members are hereby requested to note that Nomination shall be optional for UCCs created on BSE StAR MF platform where Holding Nature is Joint or Anyone or Survivor.

In case the Client does not wish to opt for Nomination, then all the Nomination details should be kept blank while creating UCC. In case the client wishes to opt for nomination in Joint/Any One or Survivor holding nature, they may provide the Nomination with all mandatory details as per the existing validations for Nomination.

If any of the details with respect to Nomination are provided in UCC then the existing validations for Nomination shall be applicable.  The nomination details entered in the UCC shall be reported to RTA along with the transactions.

Exemption of nomination is applicable for non-demat transactions only.

Please find the attached below Annexure:

Annexure I: Client Master Bulk Upload

Annexure II: Applicable Tax Status for Nomination

Annexure III: SEBI Circular

All members using third party vendor solutions and/or in-house developed trading application are hereby requested to take note of the above and arrange to initiate necessary development at their end.

For any query on the BSE StAR MF platform, you can reach us through our service centre on 022-45720450 & 022-45720650 on business days between 8.00 a.m. to 7.00 p.m. You can also raise your queries on our CRS portal:- https://bsecrs.bseindia.com

 

 

Ketan Jantre                                  Zeeta Eustace

Head - Trading Operations          Additional General Manager – Mutual Funds

Attachments
Annexure II Applicable Tax Status for Nomination.xls
Annexure III SEBI Circular.pdf
Annexure I Client Master Bulk Upload.xls