Simplification of procedure and standardisation of formats of documents for transmission of securities

SEBI vide circular dated 18th May, 2022, has further eased and standardized the process of effecting transmission of securities. Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2022, SEBI had provided the standardized procedure for transmission of securities and now with formats of various documents which are required to be furnished for processing of transmission of securities have been specified.

For ease of reference, a ready reckoner listing out the documents required for transmission of securities, in case of demise of the sole holder has been specified. Operational guidelines for processing investor’s service request for the purpose of Transmission of securities is also provided in the circular. Also, following formats have been specified to bring about the standardization in the process across all the RTA’s and Companies:

  1. Format of the form to be filed by nominee/claimant(s)/legal heir(s) while requesting transmission of securities;
  2. Format of affidavit to be given by all Legal Heirs or Legal Heirs named in Succession Certificate/ Probate of Will/ Will/ Letter of Administration/ Legal Heirship Certificate/Court Decree;
  3. Format of Bond of Indemnity to be furnished jointly by all Legal Heir(s) including the Claimant(s);
  4. Format of NOC from other Legal Heir(s) for transmission of securities in favour of the Claimant(s)/legal heir(s);
  5. Format of the Letter of Confirmation to be issued by RTAs/ Issuer Companies

This will bring ease on the part of the legal heir(s) as they need not to follow different procedural requirements and formats for the purpose of transmission of securities in their name. This will save time and efforts in transmission of securities.


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