Relaxation from requirement to furnish a copy of PAN for transfer of equity shares of listed entities executed by non-residents
Summary
SEBI grants a relaxation from the requirement to furnish a PAN card for non-residents transferring equity shares of listed entities. This exemption applies specifically to non-commercial transfers by way of gift among immediate relatives executed after January 1, 2016. Non-residents must provide an alternate valid document to ascertain their identity and status under this provision.
Text
grant relaxation to non-residents (such as NRIs, PIOs, OCIs and foreign nationals) from the requirement to furnish PAN and permit them to transfer equity shares held by them in listed entities to their immediate relatives subject to the following conditions
This circular is being issued in exercise of powers conferred under Section11(1) of the Securities and Exchange Board of India Act, 1992, read with Regulation 101 and 102 of the LODR to address the difficulties faced by investors in transfer of physical shares.
The Stock Exchanges are advised to bring the provisions of this circular to the notice of Listed Entities and also to disseminate the same on their websites.
Source: SecMarx — Relaxation from requirement to furnish a copy of PAN for transfer of equity shares of listed entities executed by non-residents. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.