Markets regulator Sebi on Friday deferred the implementation of rules pertaining to nomination for mutual fund holders till October 1.
The rules, which mandate investors, subscribing to mutual fund units, to submit details of nomination or opting out of nomination, was to come into force August 1.
Now, investors, who are subscribing to mutual fund units from October 1 will have the choice of providing nomination or opting out nomination, the Securities and Exchange Board of India (Sebi) said in a circular.
Asset Management Companies (AMCs) will have to provide an option to the unit holder to submit either the nomination form or the declaration form for opting out of nomination in physical or online mode as per the choice of the unit holder.
In case of physical option, the forms will carry the wet signature of all the unit holders and if it is online, e-sign facility will be used instead of wet signature of all the unit holders.
Besides, AMCs will validate the forms through two-fac
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