Udayavni Special

Beneficial Owner name change: Sebi eases norms for K’taka, Punjab residents


Team Udayavani, Dec 28, 2018, 3:16 PM IST

New Delhi/Bengaluru: Markets regulator Sebi on Thursday, December 27 came out with simplified rules for investors from Karnataka and Punjab regarding the procedure for a name change in beneficial owner’s (BO) account.

BO is a person who ultimately owns or controls a foreign portfolio investment.

According to Sebi, one of the documents required for change of name in BO’s account with depositories for reasons other than marriage is a document related to the publication of name change in the official gazette.

However, depositories said for residents of Karnataka and Punjab, the name change is published by respective state governments in the official gazette only for government employees and not in the case of private persons.

“Accordingly, it has been decided that in case of change of name of an individual in these states for reasons other than marriage, the same may be allowed for the individual in the BO account”, subject to the submission of necessary documents, Sebi said in a circular.

The necessary documents include request letter for change of name, affidavit executed before notary and publishing in one local and a national newspaper regarding change in name, among others, Sebi said.

Besides, Securities and Exchange Board of India (Sebi) directed depositories to implement the new framework within three months and keep an audit trail of the name change in the BO account similar to that of address change or any other change of coordinates.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Brokerages downgrade India’s GDP growth projections for FY’22 amid resurgence of Covid cases

New modus operandi by fraudsters to withdraw money from ATMs

K’taka CM Yediyurappa in hospital for COVID treatment is stable and recovering

Story of Myntra, the biggest fashion e-commerce platform in India

Centre should reveal its Covid-19 vaccination plan: Manmohan Singh in letter to PM

Rise in COVID-19 cases: K’taka Health Minister underlines need for stringent measures

Kejriwal writes to PM, seeks help for beds, oxygen for COVID-19 patients




Related Articles More

K’taka CM Yediyurappa in hospital for COVID treatment is stable and recovering

Rise in COVID-19 cases: K’taka Health Minister underlines need for stringent measures

Religious events: Kota Poojary writes to CM BS Yediyurappa for relaxations

Three arrested for hoarding, black-marketing Remdesivir, vital for COVID treatment

Pregnant, lactating mothers exempted from coming to office: M’luru Compol

MUST WATCH

SP slaps local vendor for not wearing mask

George Kadiyali | Can We Grow More Food on Less Land?

Udayavani 17-April-2021 News Bulletin

The fear of Covid 2nd Wave!!

Congress Karyakartas accuses police

Latest Additions

Brokerages downgrade India’s GDP growth projections for FY’22 amid resurgence of Covid cases

AirAsia India not to charge any fee for changes made on tickets booked till May 15

New modus operandi by fraudsters to withdraw money from ATMs

K’taka CM Yediyurappa in hospital for COVID treatment is stable and recovering

Story of Myntra, the biggest fashion e-commerce platform in India

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.