The SEBI (Mutual Fund) Regulations, 1996, notifies that the mutual fund shall provide for nomination facility to the unit holders to nominate a person in whose favor the units shall be transmitted in the event of death of the unit holder. In accordance, with the same, the AMC provides for the nomination facility as permitted under the Regulations.
1. Nomination is mandatory for single mode of holding along with complete details of full address of the nominee.
2. All holders in the folio need to sign the nomination form, irrespective of the mode of holding.
3. Nomination shall not be allowed in a folio held on behalf of a minor.
4. Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of Power of Attorney cannot nominate.
5. The Nominee shall not be a trust (other than a religious or charitable trust), society, body corporate, partnership firm,Karta of Hindu Undivided Family or a Power of Attorney holder.
6. Nomination form cannot be signed by Power of Attorney (PoA) holders.
7. Investors who do not wish to nominate must sign separately confirming their non-intention to nominate.
8. A non-resident Indian can be a Nominee subject to the exchange controls in force, from time to time.
9. Nomination in respect of the units stands withdrawn upon the transfer of units.
10. Investors who want to make multiple nominations need to fill the separate Multiple Nomination Form available on www.icicipruamc.com and submit it to the AMC.
To modify/cancel an existing nomination, the investor is required to fill in the Modification/Cancellation form and submit the same duly signed to the Customer Service Center.
The cancellation of nomination can be made only by those individuals who hold units on their own behalf, single or jointly and who made the original nomination and the request has to signed by all the holders.
On cancellation of the nomination, the nomination shall stand withdrawn and the AMC shall not be under any obligation to transfer the units in favor of the Nominee.