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In January 2009, six Participants were made operational in NSDL. These are:

The above additions take the total number of operational Participants to 274 and the total number of DPM set-ups to 352.

Based on SEBI's advise, NSDL has made certain changes pertaining to nomination in the account opening form (AOF). Accordingly, for new accounts, the applicant has to mandatorily mention either the nomination details or state that "I/We do not wish to make a nomination". For existing accounts where nomination is not done, NSDL has advised its Participants to send a communication to their Clients to either provide nomination details or to submit a declaration not opting for nomination.

NSDL has informed its Participants that they may use the existing stock of AOFs provided a stamp with the words "I/We do not wish to make a nomination" is affi xed at the relevant place to enable the Client to tick the appropriate option. Alternatively, Participants may obtain a separate letter from Client(s) stating that they do not wish to make a nomination, if the Client(s) so desires.

This has been informed to Participants vide Circular Nos. NSDL/POLICY/2009/0002 dated January 3, 2009 and NSDL/POLICY/2009/0004 dated January 9, 2009.

Based on SEBI's advise, NSDL has advised its Participants that in case of death of a joint account holder if the surviving Client(s) wish to open a new BO account with the same Participant, then the Participant can open the new BO account on the basis of the existing documents already in the possession of the Participant, provided that the said documents meet the prevailing requirements for opening an account.

This has been informed to Participants vide Circular No. NSDL/POLICY/2009/0002 dated January 3, 2009.

NSDL has been receiving representations from Participants seeking exemption from sending Transaction Statements on quarterly basis to Clients holding demat accounts with no transactions and no security balances. Based on this, NSDL has informed its Participants that they may not send the quarterly Transaction Statements to such Clients subject to the following:

This has been informed to Participants vide Circular No. NSDL/POLICY/2008/0087 dated December 30, 2008.

• Client is informed in advance that it will not be receiving Transaction Statements for such accounts till there are any transactions or security holdings in the demat account.
• KYC and PAN requirement in respect of all such demat accounts are complied.
• No Annual Maintenance Charges are levied for such an account.
• Client must have opted for the SMS alert facility as provided by NSDL.
• Information which is required to be disseminated by Participants by way of a note in the Transaction Statements will be required to be communicated to such Clients separately.
• The Internal Auditor of the Participant shall comment in its internal audit report on compliance of the aforesaid requirements.

In case there is any transaction i.e. credit or subsequent debit in the Client's demat account, the Participant must send Transaction Statements to the Client at stipulated intervals in accordance with Bye Laws & Business Rules of NSDL.

Further, furnishing of Transaction Statement is a requirement for those Clients who do not want to personally visit the Participant's offi ce for various requests such as address change, Delivery Instruction Slips, etc. For the purpose of such requests, Clients will have to personally visit the Participant's offi ce as they would not have received the latest Transaction Statement.

This has been informed to Participants vide Circular No. NSDL/POLICY/2009/0006 dated January 15, 2009.

In order to increase the availability of trained personnel for depository operations, NSDL certifi ed personnel for depository operations will also be treated as eligible persons at service centres of Participants, in addition to NCFM (NSE's Certifi cation in Financial Markets - NSDL - Depository Operations Module) certifi ed personnel.

This has been informed to Participants vide Circular No NSDL/POLICY/2009/0012 dated February 11, 2009.

NSDL conducts NCFM oriented training programmes for Participants to facilitate them to appear for the NCFM examination.In January 2009, such programmes were conducted in Mumbai which were attended by 92 persons.

NSDL has informed all its Participants that pursuant to the closure of depository operations by Apeejay Securities Private Limited (ASPL), its certifi cate of registration as a Participant of NSDL has been cancelled by SEBI. Accordingly, name of ASPL has been deleted from the Depository System.

This has been informed to Participants vide Circular No. NSDL/PI/2009/0036 dated January 6, 2009.