Mapin (unique identification number for market participants and investors) may get a fresh lease of life after a one-year gap, with the Securities and Exchange Board of India (Sebi) planning to resume registrations in a phased manner. The market regulator had suspended all Mapin registrations in July last year. | |
| To begin with, the cut-off limit for obtaining the unique identification number with biometric impressions for natural persons will be raised from the existing limit of a trade order value of Rs 1 lakh to Rs 5 lakh or more. |
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| In its annual report for 2005-06 released today, Sebi said, "The limit will be reduced progressively. For a trade order value of less than Rs 5 lakh, an option will be available to investors to provide either the permanent account number (PAN) of the income tax department, or UIN obtained under Mapin." |
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| Investors in mutual funds would be exempted from the requirement of obtaining a UIN. Agencies capable of providing such facilities in a cost-effective manner would be assigned the responsibility of maintaining the database, the Sebi's annual report said. |
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| A listed company, or a company that intends to get its securities listed, along with its promoters, directors, officers, and designated employees, will be required to obtain a UIN. |
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| The Sebi (Central Database of Market Participants) Regulations 2003 had proposed the creation of a central database of market participants and investors, with unique identification numbers for them. |
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