SEBI on 28th November, 2024 has issued the Securities and Exchange Board of India (Depositories and Participants) (Third Amendment) Regulations, 2024. The amendment provides that 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.
Every participant shall provide a n option to the beneficial owner to nominate, in the manner as maybe 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.
