- Effective from 1st April nomination is compulsory across all new investments made in mutual funds.
- In case if you do not wish to nominate your investment,please submit declaration form of non-intention of making nomination
- In case of joint holding all unit holders needs to sign for addition/deletion of nominee even if mode of operation is “either or survivor”.
- Nomination can be made only by individuals applying singly or jointly.
- Nomination can not be updated in a folio held on behalf of a minor or held by non-individuals including society,trust,other than a religious or charitable trusts,body corporate,partnership firm,karta of hindu undivided family.
- Nomination form can not be signed by power of atternoy holder.
- Transfer of units in favour of nominee shall be valid discharge by the amc against the legal heir.
- Cancellation of nomination can be done only by those unit holders who holds units on their own and have made original nomination.
- Every new nomination for a folio / account will overwrite the existing nominee.
Nomination have always remained an ignored part.As it has made mandatory at least investors will pay attention towards it.
