Master Circular on 'Account Opening' - Version 1 - NSDL

account after the same has been verified in accordance with point no.1.1.4 above.(e) The account should be used only for holding securities, which arerequired to be transferred under the specific scheme and inaccordance with the SEBI regulations.(f) As the account is opened for specific purpose, the same shall beclosed immediately after the shares held in the account aretransferred to the respective demat accounts or are extinguished asrequired under the said scheme.1.3.4 Depository account for unclaimed shares of listed companies:(a) The depository account may be opened in the name as “ – Unclaimed Suspense Account” under the type “BodyCorporate” and sub-type “Others” by the Issuer.(b) The Issuer shall submit a declaration on its letterhead, signed by theauthorized signatories, stating that: “We hereby undertake that wewill ensure compliance with the provisions of the applicable SEBIguidelines for dealing with unclaimed shares. We further undertakethat the said depository account will only be used for specifiedpurposes”.(c) Procedure mentioned above in point nos. 1.3.1 and 1.3.2 (I) aboutopening of depository account in case of non-individual should befollowed.1.3.5 CM Account:I. The CM should fill up the KYC Application Form (Part I) andAccount Opening Form (Part II) as per the format given in AnnexureK of the Business Rules of NSDL and submit the same to theParticipant alongwith the agreement (as per Annexure B in the ByeLaws) duly executed on a stamp paper of appropriate value. Further,the Participant shall be responsible in deciding the value of the29