Amendment to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandating transfer of securities in dematerialized form with a depository
SEBI amended Regulation 40 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 wherein it was intimated that transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository with effect from December 5, 2018.
Pursuant to the amendment, several initiatives were taken by SEBI to spread awareness about the proposed change. Listed companies, Depositories and Exchanges have been advised to take special efforts to reach out to the investors holding physical securities. However, SEBI keeps receiving several calls and/or emails concerning the applicability of the amendment.
In view of the above, the following is hereby clarified:
Investors may refer to SEBI circular CIR/MRD/DP/22/2012 dated August 27, 2012 for details relating to Basic Services Demat Account facility.