Change in Mode of Payment w.r.t. SEBI Investor Protection and Education Fund Bank A/c
Summary
SEBI mandates that all payments to the Investor Protection and Education Fund (IPEF) must be made exclusively through a specific online link, replacing previous methods like demand drafts. The circular introduces a new bank account for IPEF and specifies acceptable digital payment modes including net banking, NEFT/RTGS, debit cards, and UPI. Remitters are required to provide specific details such as PAN and purpose of payment when using the online portal.
Text
Henceforth, remittances to SEBI IPEF shall be made only through the below mentioned link.
SEBI has opened a new bank account to facilitate market participants to make payment to SEBI Investor Protection and Education Fund (SEBI IPEF).
The link enables the remitter to make payment in any of the following manner: Net banking, NEFT/RTGS, Debit Cards, UPI.
While making the remittances online, through the above link, remitters shall furnish the requisite information like name of the payer, PAN, mobile number, email ID, the purpose for which payment is made, the amount to be paid, etc.
The Stock Exchanges are advised to take note of the same and inform the above changes to all the companies listed on their Exchange through a Circular.
This circular is issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992 and shall come into force with immediate effect.
Source: SecMarx — Change in Mode of Payment w.r.t. SEBI Investor Protection and Education Fund Bank A/c. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.