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 The Securities and Exchange Board of India (SEBI) has extended the timeline for the submission of public comments on the Consultation Paper to Revise and Revamp Nomination in Securities Market. Initially set for March 8, 2024, the new deadline is March 28, 2024.

SEBI’s extension of the public comment deadline underscores its commitment to fostering a transparent and inclusive policymaking process. Stakeholders are urged to take advantage of the extended timeline, providing well-considered comments on the Consultation Paper to Revise and Revamp Nomination in the Securities Market. By actively participating, stakeholders contribute to shaping robust policies within the Indian securities market. The collaborative effort between SEBI and stakeholders ensures a comprehensive review, fostering a regulatory framework that aligns with the dynamic needs of the market.

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Securities and Exchange Board of India

Extension of timeline for submission of public comments on the consultation Paper on Consultation Paper on Consultation Paper to Revise and Revamp Nomination in Securities Market

1. SEBI had placed a consultation paper on Revise and Revamp Nomination in Securities on its website on February 02, 2024 seeking comments by March 8, 2024. It has been decided to extend the timeline for submission of comments to March 28, 2024. Public comments may be provided using utility the link of which is given below:

https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?doPublicComments=yes

2. The consultation paper through the below link:

Consultation Paper to revise & revamp nomination facilities in Indian Securities Market

3. Instructions for providing the comments are as under :

3.1 General Instructions:

  • Please read and understand the proposal in the consultation paper you are commenting on. Please be concise but support your rationale in the comments;
  • Clearly identify the issues on which you are commenting. If you are commenting on a particular word phrase or sentence, provide the page number, column and paragraph citation from the consultation paper.
  • The comment process is not a vote. The Board is attempting to formulate the best policy, so when crafting a comment, it is important that you adequately explain the reasoning behind your position.
  • If you choose to disagree with any of the proposal, kindly provide your comments and rationale for your disagreement. Please note that the disagreement without any comments/ rationale may not be considered.

3.2 Procedural Instructions:

  • There will be a dropdown of multiple proposals in the form after selection of the relevant consultation paper. Select the proposals one-by-one beginning with the first proposal and moving on to 2nd, 3rd and so on. For each of the proposal, please record your level of agreement and provide your comments, if any, followed by clicking on the “Submit” button.
  • If you want to skip any particular proposal(s) in between, you may do so by selecting the “Skip this proposal” option and clicking on the “Submit” button. With each click on “Submit” button, the system saves your response and prompt you to respond to the next proposal.
  • The updated list of saved responses/ proposal numbers may be seen on the top of the screen which gets updated with every click on the “Submit” button.
  • Please note that the saved comments shall be submitted to SEBI only after saving your response on all of the proposals. Post submission of comments, a message as “Thank you for submitting your comments” shall appear on the screen indicating the successful submission.
  • Please do not click the “back” button or do not “refresh” your screen during the process as it may lead to loss of saved comments;
  • Please avoid using Special Characters such as ( ) { } [ ] ~ ! @ # $ % ^ & * in your comments. This may lead to technical errors in submission of comments.

4. In case of any technical issue in submitting comments through the web based utility, please drop an email at ia_ho@sebi.gov.in with a subject: “Issue in submitting comments on Consultation Paper on Consultation Paper to revise and revamp Nomination in Securities Market”

Issued on March 8, 2024

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