Ch.9 · Systematic Transactions — SIP, SWP, STP · medium

Can a minor be registered as a nominee in a mutual fund folio?

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EXPLANATION

A minor can be registered as a nominee. In such cases, the guardian's name and relationship must also be provided. The guardian will receive the proceeds on behalf of the minor nominee in the event of the investor's death.

A.Yes — a minor can be a nominee, with the guardian's details mandatory [✓ Correct]

B.No — nominees must be adults (18 years or above)

C.Yes — but only if the minor is the investor's biological child

D.No — minors can only be joint holders, not nominees

EXPLANATION

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