Facility to remedy erroneous transfers in demat accounts

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..... ar no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/71 dated May 17, 2023, titled "Master Circular for Stock Brokers" has, inter alia, specified the following: "35.11 All off-market transfer of securities shall be permitted by the Depositories only by execution of Physical Delivery Instruction Slip (DIS) duly signed by the client himself or by way of electronic DIS. The Depositories shall also put in pl .....

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..... sfers respectively. Such committee shall be headed by a Public Interest Director of Depository and have a minimum of 3 members including the head. The depositories shall place before the committee all such instances of erroneous transfers pending for reversal. 5. The committee shall examine such erroneous transfers and provide an opportunity of hearing to both the parties in the interest of princ .....

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..... epositories shall put in place appropriate systems and procedures to ensure compliance with the provisions of this circular and disseminate the SoP on their websites and bring to the notice of their participants. 10. The provisions (excluding para 8) of this circular shall come into force with immediate effect. The provisions at para 8 of this circular shall come into force with effect from Janua .....

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