Please upgrade your browser

We take your security very seriously. In order to protect you and our systems, we are making changes to all HSBC websites that means some of the oldest web browser versions will no longer be able to access these sites. Generally, the latest versions of a browser (like Edge, Chrome, Safari, etc.) and an operating system family (like Microsoft Windows, MacOS) have the most up-to-date security features.

If you are seeing this message, we have detected that you are using an older, unsupported browser.

See how to update your browser

Process for Transmission and Minor attains Majority status

The AMFI Best Practice Guideline dated 28 January, 2011 has recommended a standardized procedure in case of investments made on behalf of minors, minors attaining majority, change in guardian, nomination facility and transmission facility.

'On behalf of minor' accounts- Wherever an investment has been made on behalf of a minor, the following should be strictly followed:

  • Minor has to be the first and sole holder in a folio
  • Guardian, being a natural (father or mother) or a court-appointed guardian, shall submit supporting documents
  • Date of birth of minor and supporting documents to be mandatory procured for opening of folio.

Minor attaining majority - In case of a minor investor attaining majority, HSBC Mutual Fund will send an advance notice advising the guardian and minor to submit an application along with prescribed documents for changing status to 'major'.

  • The guardian cannot undertake any financial and non-financial transactions including fresh registration of SIP, STP and SWP after the date of minor attaining majority till the above application form along with prescribed documents are received by the AMC/RTA.
  • In case of existing standing instructions like SIP, SWP, STP which are registered for a period beyond the minor’s date of majority, the AMC/RTA shall send an advance notice advising the guardian and minor that existing standing instructions will continue to be processed beyond the date of minor attaining majority, until an instruction to terminate the existing instructions is received from the major by the AMC/RTA.

Forms are available at Investor Resources> Forms

Change in guardian - In case there is a change in the guardian of the minor invested with HSBC Mutual Fund, the new guardian will have to provide various documents prior to registering, including KYC and bank attestation of his signature of a bank account where he is the registered guardian.

Nomination facility - Investors can avail of the nomination facility and appoint a nominee to their investments.

  • A request to register a nominee will be sent to investors, in case the folio has no nomination
  • In case of joint holders, all holders will have to sign the request for nomination/cancellation of nomination, even if the mode of holding is not 'joint'
  • Nomination form cannot be signed by PoA holders and nomination will not be allowed in a folio held on behalf of a minor
  • Nomination will be mandatory for new folios opened by individuals especially with sole holding
  • New folios will not be opened for individuals in single holding without nomination

Transmission - In case of transmission of units, investor has to submit adequate documents for transmission. Documents of transmission are available for each situation. HSBC Mutual Fund may seek additional documents if amount involved in transmission is more than Rs 2 lakh, on a case-to-case basis.

SEBI, in consultation with various stakeholders, has issued guidelines for a centralized mechanism for reporting and verification in case of the demise of an investor and thereby, smoothen the process of transmission in securities market. This circular dated October 03, 2023 spells out the operational norms including the obligations of regulated entities, including registered intermediaries that have interface with ‘investors’ / ‘account holders’ (used interchangeably) who are natural persons. Click here to find the SOP to be followed for reporting the demise of the investor.

Back to top