PRESS RELEASE
PR-48/2005
Extension of Notified Date for Obtaining Unique Identification Number (UIN) under the Securities and Exchange Board of India, Central Database of Market Participants Regulations
A Central Database of Securities Market Participants’ and Investors’ Identification Numbers (MAPIN) has been set up by the Securities and Exchange Board of India (SEBI) under the SEBI (Central Database of Market Participants) Regulations, 2003 notified by SEBI on November 20, 2003. SEBI has been following a phased approach in expanding the reach of the data base. Accordingly, SEBI has been specifying from time to time the categories of individuals and entities that are required to obtain a Unique Identification Number (UIN) under the Central Database of Market Participants (MAPIN) Regulations. As of date total number of registrants under this data base is 2,00,000 comprising 1,48,000 individuals and 52, 000 corporates and intermediaries.
In terms of Notification issued by SEBI under sub regulations (1) and (3) of regulation 6 of the (Central Database of Market Participants) Regulations, 2003 on September 28, 2004, in the Gazette of India, Extraordinary, SEBI had inter alia notified "all resident investors not being bodies corporate who enter into any securities market transaction (including any transaction in units of mutual funds or collective investment schemes) of value of one lakh rupees or more" as "specified investors" under the relevant regulations and, as such will be required to obtain the UIN by March 31, 2005.
SEBI has received representations and feed back from the above "specified investors" on the difficulties faced by them in adhering to the time line of March 31, 2005. In order to alleviate their difficulties, it has been decided to give some more time to them to obtain the UIN. Accordingly the "notified date" is being extended from March 31, 2005 to December 31, 2005. The necessary notification to this effect is being issued by SEBI.
Based on the experience of SEBI on MAPIN registrations and the representations and feed back received by SEBI, it has also been decided to constitute a Committee to look into the coverage of MAPIN and other related matters. The constitution of the Committee will be announced shortly.
Mumbai
February 24, 2005