Regulation 60A - Nomination - Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018

1 [Nomination 60A. (1) Every participant shall provide an option to the beneficial owner to nominate, in the manner as may be specified, a person to whom the securities held by him shall vest in the event of his death. (2) Every participant shall provide an option to the beneficial owner to nominate, in the manner as may be specified, a person who shall be authorized to conduct transactions on behalf of the beneficial owner in the event of the incapacitation of the beneficial owner. (3) Where the account is held in the name of more than one person jointly, the joint beneficial owners may together nominate, in the manner specified, a person upon whom the securities held by them shall vest, in the event of the death of all the joint beneficial owners. (4) The depository and participant shall not be liable for any action taken on the basis of nomination ma de by the beneficial owner. ] *************** NOTES:- 1. Inserted vide F. No. SEBI/LAD-NRO/GN/2024/213 dated 28-11-2024