Indivisible securities rule
Where securities of an ISIN cannot be divided exactly in the nominated proportions, the divisible part is distributed and the remaining indivisible securities go to the nominee whose name is recorded first.
This one is not written up yet
The definition above is the short version. A full explanation — how it works, a worked example and the exam traps — is still being written. In the meantime the chapter below covers it in context.
Written up from the same chapter
- NominationThe account holder's written direction naming who receives the securities on death — up to ten nominees for a demat account, with percentages that must total 100, mandatory for single holdings.
- Succession certificateA certificate issued by a District Court under the Indian Succession Act, 1925 authorising the legal heirs of someone who died without a Will to collect the deceased's debts and securities.
Where this is taught
Free preparation for NISM Series VIRelated terms
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