A CM may transfer its clearing a/c from one DP to another with the depository approval in case of NSDL. In case of CDSL, no approval is required.
A BO can transfer all his securities in his account to another branch of the same DP or to another DP of the same depository or another depository. In such cases, there are no charges levied by a Depository to a DP or by a DP to its BO.
Minor becoming Major - Procedure to be followed - 1. Minor becomes major at 21 Yrs if Guardian is Court Appointed. Other Cases its 18, 2. An application for transferring securities from the old A/c to the new A/c in the name of Major. No joint Holders in the New A/c, 3. Attested Copy of Birth Certificate, 4. Old A/c is close after transferring the balances.
POA Holder does not have the sole authority to operate the account; Account holders who have executed a POA cannot be denied Delivery Instruction Slip (DIS) books;
DPs are not authorised to merge the securities kept under various accounts of the clients;
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