SEBI Circular on: Corrigendum to Master Circular for Depositories dated February 05, 2021 on Opening of demat account in case of HUF
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Date |
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Topic |
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26-08-2022 |
SEBI |
Compliance Demat Account |
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Highlights of SEBI Circular dated August 26, 2022 Corrigendum to Master Circular for Depositories dated February 05,
2021 on Opening of demat account in case of HUF Further to SEBI Master Circular for Depositories No.
SEBI/HO/MRD2/DDAP/CIR/P/2021/18 dated February 05, 2021 and Corrigendum to
Master Circular for Depositories dated February 05, 2021 on Opening of demat
account in case of HUF dated February 17, 2021, SEBI has specified that in
partial modification, Subsection 1.2 (a) of Section 1.4 of the Master
Circular for Depositories dated February 05, 2021 shall be replaced with the
following: “In the event of death of Karta of HUF, the name of the deceased Karta
in the Beneficial Owner (BO) account shall be replaced by the new Karta of
the HUF who in such a case shall be eldest coparcener in the HUF or a
coparcener who is appointed as Karta by an agreement reached amongst all the
coparceners of the HUF” SEBI has also specified that other provisions of the Master Circular
for Depositories SEBI/ HO/ MRD2/DDAP/CIR/P/2021/18 dated February 05, 2021
shall remain unchanged SEBI Circular No.
SEBI/HO/MRD/MRD-POD-2/P/CIR/2022/114 dated August 26, 2022 is enclosed
herewith for your ready reference In case of any clarification or assistance required in implementation of this circular you may contact
Kaushik Jethwa – kau...@secmark.in / 9870210171 |
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