SEBI Amends Rules To Ease Securities Transmission Procedure
Moneylife Digital Team 28 April 2022
In a welcome move, market regulator Securities and Exchange Board of India (SEBI) has revised the existing threshold limit for simplified documents to Rs5 lakh from Rs2 lakh currently for securities held in physical mode per listed issuer. The move comes with the aim of simplifying the procedure for transmission of securities. 
Also, the threshold in this regard for securities held in the dematerialised mode for each beneficiary account has been increased to Rs15 lakh from the present level of Rs 5 lakh. Moneylife managing editor, Sucheta Dalal, has frequently written in her column about the need to simplify procedure of transmission of securities.
Legal heirship certificate or its equivalent certificate issued by competent government authority will be an acceptable document for transmission of securities, SEBI said in a notification issued on Tuesday night.
The objective is to ensure that uniform processes are followed by the registrars to an issue and share transfer agents (RTAs) / listed companies, which would further ease the transmission process for investors.
To effect this, the capital markets regulator has amended SEBI's Listing Obligations and Disclosure Requirements or LODR Regulations.
The move comes after the board of SEBI approved a proposal in this regard at its meeting in late-March.
In its notification, the regulator has also listed documentation requirements in case of transmission of securities.
In case of transmission of securities, where the securities are held in single name with nomination, SEBI said documents like transmission request form by the nominee, original death certificate or copy of death certificate attested by the nominee and copy of permanent account number (PAN) card of the nominee need to be submitted.
In case of transmission of securities, where the securities are held in single name without nomination, documents, including a notarised affidavit from all legal heirs made on non-judicial stamp paper of appropriate value, to the effect of identification and claim of legal ownership to the securities, need to be submitted.
In case the legal heirs are named in the succession certificate or ‘Probate of Will’, then the legal heirship certificate or its equivalent certificate can be submitted, SEBI stated.
2 years ago
Can moneylife team share the sebi circular or guidelines issued by SEBI. Because RTAs say they have not received any communication in this regards...
Replied to 2528 comment 2 years ago

Click then click >> Legal then click on >> Circular

here you find latest Ammendments made by SEBI as well as circulars
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