Standardisation and Simplification of Procedures for Transmission of Securities
Summary
SEBI revised the threshold limits for simplified documentation in securities transmission to Rs 5 lakh for dematerialized and Rs 2 lakh for physical holdings. The circular mandates specific processing timelines of 7 days for dematerialized and 21 days for physical mode transmissions. It also directs stakeholders to enhance investor awareness regarding nomination facilities and amend relevant rules accordingly.
Text
threshold limit of ` 1,00,000 ... has now been revised to ` 5,00,000 (Rupees Five lakh only), for the purpose of following simplified documentation
STAs/issuer companies shall follow the standardized documentary requirement as given in Annexure A
STAs/issuer companies shall follow ... simplified documentation as given in Annexure A, for a threshold limit of ` 2,00,000 ... per issuer company
all Registrars to an Issue and Share Transfer Agents shall publicize nomination as an additional right available to investors, while sending communications to the investors
All the stock exchanges are directed to make necessary amendments, wherever applicable, to the listing agreements for listing of various securities
The depositories are directed to make necessary amendments, wherever applicable, to the relevant byelaws/ rules and regulations/circulars in this regard
shall be complied with at the earliest and not later than 45 days from the date of issue of the circular
Source: SecMarx — Standardisation and Simplification of Procedures for Transmission of Securities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.