On 8th June 2018 , SEBI has notified vide Notification No SEBI/LADNRO/GN/2018/24 by issuing SEBI (listing obligations and disclosure requirements) (fourth amendment) Regulations, 2018 that except in case of transmission or transposition of securities, requests for effecting the transfer of securities shall not be processed unless the securities are held in the dematerealised form with a depository. In other words, there will not be any transfer of physical share after 5th December, 2018.
SEBI has decided to amend Regulation 40 of the SEBI Regulations 2015 which deals with transfer or transmission or transposition of securities.
According to this amendment, the request for effecting the transfer of listed securities shall not be processed unless the securities are held in the dematerealised form with a depository. Therefore, for effecting any transfer, the securities shall mandetorily required to be in Demat form.
It is to be noted that the holder can continue to hold the shares in physical form but one can not transfer the same in physical form.
SEBI has decided to amend Regulation 40 of the SEBI Regulations 2015 which deals with transfer or transmission or transposition of securities.
According to this amendment, the request for effecting the transfer of listed securities shall not be processed unless the securities are held in the dematerealised form with a depository. Therefore, for effecting any transfer, the securities shall mandetorily required to be in Demat form.
It is to be noted that the holder can continue to hold the shares in physical form but one can not transfer the same in physical form.
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