Extension of Timelines – Change in Nomination Guidelines by SEBI

July 29, 2022 . Manas muraleedharan

With reference to the SEBI Circular (SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/105), dated July 29, 2022, Investors subscribing to mutual fund units on or after October 1, 2022, should either provide “Nomination” details OR they need to confirm on “Opting out of nomination”. This would be applicable for all the new folios created with effect from October 1, 2022, and will be updated at Folio level. 

Existing Folios without Nomination are to be remediated with either of the option – Nomination / Opt-out of Nomination, on or before March 31, 2023, failing which the folios shall be frozen for debits/redemption.

Due provisions to Opt In/Out of nominations will be provided by FundsIndia within the platform to all the investors in a format as prescribed by AMFI/SEBI.

Additional details and steps to follow pertaining to this will be communicated to you via mail in the upcoming days. The circular released by SEBI is attached below for your reference.

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