भारतीय प्रततभूतत और तितिमय बोर्ड
Securities and Exchange Board of India
CIRCULAR
SEBI/HO/MRD/MRD-POD-2/P/CIR/2022/114 August 26, 2022
To
All Depositories
Dear Sir/Madam,
Sub: Corrigendum to Master Circular for Depositories dated February 05, 2021
on Opening of demat account in case of HUF
1. Please refer to SEBI Master Circular for Depositories No.
SEBI/HO/MRD2/DDAP/CIR/P/2021/18 dated February 05, 2021 and
Corrigendum to Master Circular for Depositories dated February 05, 2021 on
Opening of demat account in case of HUF dated February 17, 2021.
2. In partial modification, Subsection 1.2 (a) of Section 1.4 of the Master Circular
for Depositories dated February 05, 2021 shall be replaced with the following:
“In the event of death of Karta of HUF, the name of the deceased Karta in the
Beneficial Owner (BO) account shall be replaced by the new Karta of the HUF
who in such a case shall be eldest coparcener in the HUF or a coparcener who
is appointed as Karta by an agreement reached amongst all the coparceners
of the HUF”
3. It may be noted that the other provisions of the Master Circular for Depositories
SEBI/HO/MRD2/DDAP/CIR/P/2021/18 dated February 05, 2021 shall remain
unchanged.
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भारतीय प्रततभूतत और तितिमय बोर्ड
Securities and Exchange Board of India
4. The Depositories are advised to:
i. make amendments to the relevant bye-laws, rules and regulations for the
implementation of the above decision, as may be applicable/necessary;
ii. to carry out system changes, if any, to implement the above;
iii. disseminate the provisions of this circular on their website;
iv. communicate to SEBI, the status of implementation of the provisions of this
circular in their Monthly Development Report.
5. This circular is issued in exercise of powers conferred under Section 11 (1) of
the Securities and Exchange Board of India Act, 1992, to protect the interests
of investors in securities and to promote the development of, and to regulate
the securities market.
6. The circular is available on SEBI website at www.sebi.gov.in at “Legal > Master
Circulars”.
Yours faithfully,
Vishal Shukla
General Manager
Market Regulation Department
Email: vishals@sebi.gov.in
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