<p>"It is hereby clarified that it shall be mandatory to furnish a copy of PAN (on) transmission of shares to the legal heir(s), where the deceased shareholder was the sole holder of shares," a Sebi circular said on Thursday.<br /><br />It further said PAN would be mandatory for deletion of the name of the deceased shareholder where the shares were held in the name of two or more shareholders.<br />The regulator asked all stock exchanges to implement it by making necessary amendments to the bye-laws and listing agreements.<br /><br />In April 2007, Sebi made PAN mandatory for all securities market transactions. In May 2008, Sebi said, "for securities market transactions and off-market or private transactions involving transfer of shares in physical form of listed companies, it shall be mandatory for the transferee(s) to furnish copy of PAN card."</p>
<p>"It is hereby clarified that it shall be mandatory to furnish a copy of PAN (on) transmission of shares to the legal heir(s), where the deceased shareholder was the sole holder of shares," a Sebi circular said on Thursday.<br /><br />It further said PAN would be mandatory for deletion of the name of the deceased shareholder where the shares were held in the name of two or more shareholders.<br />The regulator asked all stock exchanges to implement it by making necessary amendments to the bye-laws and listing agreements.<br /><br />In April 2007, Sebi made PAN mandatory for all securities market transactions. In May 2008, Sebi said, "for securities market transactions and off-market or private transactions involving transfer of shares in physical form of listed companies, it shall be mandatory for the transferee(s) to furnish copy of PAN card."</p>