If a third-party payment is to be made for subscribing to a mutual fund scheme, which of the following is essentially required?
A
The minimum investment must be Rs. 50,000
B
The third party must provide PAN details and comply with the KYC norms
C
The third party must also have a folio with the mutual fund
D
All of the above
Correct Option:
B
Explanation
SEBI permits third-party payments only in specified cases, such as investments made by parents for minors or by employers. In such cases, the third party must provide PAN details and comply with the applicable KYC requirements.
