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Trading and Demat Account Nominee Updation
The earlier deadline for appointing a nominee for trading and demat account was 31st March 2023. The eligible account holder had to either add a nominee or had to opt out by the deadline. However SEBI in a circular dated 27th March 2023 extended the deadline to 30th September 2023. SEBI in a circular mentioned, “Based on the assessment of the trading as well as demat accounts in which choice of nomination details (i.e. furnishing of nomination or declaration for opting out of nomination) has not been updated and on the basis of representations received from the stakeholders, it has been decided that the provisions mentioned at para 7 of SEBI circular dated July 23, 2021 read with para 3 (a) of SEBI circular dated February 24, 2022 with regard to freezing of accounts shall come into force with effect from September 30, 2023 instead of March 31, 2023,”
Mutual Fund Nominee Updation
The earlier deadline for mutual fund investors to update nominee was 31st March 2023. However SEBI has revised it to 30th September 2023. In a circulated dated 28th March 2023 the market regulator mentioned, “Based on representations received from the market participants, it has been decided that the provision mentioned at para 4 of SEBI circular dated June 15, 2022 with regard to freezing of folios, shall come into force with effect from September 30, 2023 instead of March 31, 2023.”
PAN-Aadhar Link Deadline Extended
Earlier the last date to link PAN and Aadhar was 31st March 2023. But now the date has been extended to 30th June 2023. After June 30, the PAN of those who have not linked their Aadhar with will be non-operative. “The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of ₹1,000,” the Ministry of Finance release said.
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