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SEBI amends rules to simplify procedure for transmission of securities
Context
SEBI has revised the existing threshold limit for simplified documents to Rs 5 lakh from Rs 2 lakh currently for securities held in physical mode per listed issuer.
About
Implications of the amendments:
- It aims to simplify the procedure for transmission of securities.
- Also, the threshold in this regard for securities held in the dematerialised mode for each beneficiary account has been increased to Rs 15 lakh from the present level of Rs 5 lakh.
- Legal heirship certificate or its equivalent certificate issued by competent government authority will be an acceptable document for transmission of securities.
- The objective is to ensure that uniform processes are followed by the Registrars to an Issue and Share Transfer Agents (RTAs) / listed companies, which would further ease the transmission process for investors.
- To effect this, the capital markets regulator has amended SEBI's Listing Obligations and Disclosure Requirements or LODR Regulations.
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Securities and Exchange Board of India (SEBI)
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