SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2025/110 July 30, 2025

CIRCULAR SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2025/110 July 30, 2025 To, Asset Management Companies (AMCs) of Mutual Funds (MFs) and their Registrars to an issue and share Transfer Agents (RTAs) Association of Mutual Funds in India (AMFI) Recognized Depositories Registered Depository Participants Dear Sir / Madam, Subject: Extension of timeline for implementation of Phase II & III of Nomination Circular dated January 10, 2025 read with Circular dated February 28, 2025 SEBI had issued a circular on "Revise and Revamp Nomination Facilities in the Indian Securities Market" on January 10, 2025 1 . Pursuant to the representations received from various stakeholders and discussions held thereafter, it was, inter-alia, decided to implement the circular in three (3) phases, instead of from March 01, 2025. Accordingly, vide circular dated February 28, 2025 2 , implementation of certain provisions were deferred to Phase II (i.e. June 01, 2025) and Phase III (i.e. September 01, 2025). The aforementioned circulars dated January 10, 2025 and February 28, 2025 are hereinafter collectively referred to as 'Nomination Circular'. SEBI has received representations from the Depositories (CDSL, NSDL), depository participants and Industry Associations (ANMI, CPAI) requesting for extension of time to carry out the system developments / process changes, which are pre-requisites for implementation of Phase II of Nomination Circular. 1 SEBI Circular ref. no. SEBI/HO/OIAE/OIAE_IAD-3/P/ON/2025/01650 2 SEBI Circular ref. no. SEBI/HO/OIAE/OIAE_IAD-3/P/ON/2025/0027 titled 'Amendments and clarifications to Circular dated January 10, 2025 on Revise and Revamp Nomination Facilities in the Indian Securities Market' dated February 28, 2025. In view of the operational difficulties expressed by the Depositories, de

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