{"id":288058,"date":"2023-03-28T14:00:48","date_gmt":"2023-03-28T08:30:48","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=288058"},"modified":"2023-03-28T12:20:38","modified_gmt":"2023-03-28T06:50:38","slug":"sebi-extended-timelines-for-existing-account-holders-to-provide-choice-of-nomination-details-by-either-furnishing-of-nomination-or-declaration-for-opting-out-nomination-legal-update-legal-research-l","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/28\/sebi-extended-timelines-for-existing-account-holders-to-provide-choice-of-nomination-details-by-either-furnishing-of-nomination-or-declaration-for-opting-out-nomination-legal-update-legal-research-l\/","title":{"rendered":"SEBI extends timeline for existing account holders to provide &#8220;choice of nomination details&#8221; till 30-9-2023"},"content":{"rendered":"<p><script type=\"text\/javascript\">\n\tdocument.title = 'SEBI extends deadline for nominations in demat and trading account | SCC Blog'\n\tdocument.querySelector('meta[name=\"description\"]').setAttribute(\"content\", \"Securities and Exchange Board of India extended timeline for existing demat and trading account holders to provide nomination by 30 September.\");\n<\/script><\/p>\n<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">On 27-3-2023, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) has extended timelines for the existing account holders to provide choice of nomination details by either furnishing of nomination or declaration for opting out nomination.<\/p>\n<p><b>Key Points:<\/b><\/p>\n<ol>\n<li>\n<p>SEBI further extended the timeline with regard to freezing of trading and demat accounts from 31-3-2023 to 30-9-2023.<\/p>\n<\/li>\n<li>\n<p>SEBI decided to extend the timeline as the choice of nomination details was not updated.<\/p>\n<\/li>\n<li>\n<p>On 23-7-2021, SEBI mandated providing choice of nomination details for investors opening new trading and\/or demat accounts on or after 1-10-2021 and for all existing holders by 31-3-2022.<\/p>\n<\/li>\n<li>\n<p>On 24-2-2022, SEBI extended the timeline for the existing trading and demat holders to 31-3-2023.<\/p>\n<\/li>\n<li>\n<p>SEBI directed the Stock Exchanges and Depositories:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>monitor the efforts made by trading members and depository participants for updating of &#8216;choice of nomination&#8217; by their clients and submit a report to this effect on monthly basis within next 7 days from the end of the month.<\/p>\n<\/li>\n<li>\n<p style=\"margin-bottom: 3%;\">first such report has to be submitted by 7-5-2023 for the month of April 2023.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On 27-3-2023, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) has extended timelines for the existing account holders to provide choice of <\/p>\n","protected":false},"author":67515,"featured_media":286246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[56307,35845,39643,56306,2563,56308],"class_list":["post-288058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-choice-of-nomination-details","tag-circular","tag-demat-account","tag-extension-of-timeline","tag-SEBI","tag-trading-account"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI extends timeline for existing account holders to provide &#8220;choice of nomination details&#8221; till 30-9-2023 | SCC Times<\/title>\n<meta name=\"description\" content=\"On 27-3-2023, the Securities and Exchange Board of India 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