look news india
New Delhi, 01 October (Hindustan Reporter). Market regulator Securities and Exchange Board of India (SEBI) has changed the rules for nomination in mutual funds (MF) and demat accounts. Under the new rules, now any investor can make 10 nominees. These rules have become effective from today itself. Earlier, an investor could make a maximum of three people as nominee.
In the decisions taken in the meeting of the Governing Body of SEBI, it has been made clear that the nominee of the mutual fund account or demat account will be the trustee of the account instead of being the last owner. Along with this, SEBI has also allowed the nominee to take decisions on behalf of incapacitated investors. However, some terms and conditions have also been added for this. It is being said that this change in the rules has been made in the light of a decision of the Supreme Court some time ago.
