SEBI has specified from time to time the categories of individuals and entities that are required to obtain a Unique Identification Number (UIN) under the Central Database of Market Participants (MAPIN) Regulations, 2003. It has been further clarified that the UIN has to be obtained only once by an individual / entity irrespective of any change to the official position(s) held by the individual. A UIN once issued to an individual is permanent under any of the following circumstances:
- On change of employment by the individual, as an employee of the new organization.
- As an employee of one organization and director of another organization.
- As an employee / director of one organization and the relative of an employee/ director of another organization.
- As an individual and as a director of an organization.
- As a director of two different organizations.
- As an individual and as a client-undertaking margin trading activities.
- Loss of original MAPIN card.
- Non-receipt of MAPIN card after submitting the application form.
An individual needs to obtain only one UIN, which can then be linked to other organizations / intermediaries under the circumstances enumerated above. Similarly, an entity needs to obtain UIN only once even though it may be registered with SEBI in various capacities.
It may be noted that obtaining a second UIN, by an individual or an entity is a violation of the provisions of SEBI, MAPIN regulations 2003 and the concerned person is therefore, liable for appropriate penal action.
This was clarified by SEBI vide its Press Release No. 278/2004 dated October 18, 2004 and intimated to the DPs vide Circular No. NSDL/PI/2004/2063 dated November 16, 2004.
