Government today made it clear that investors who do not submit their Permanent Account Number (PAN) to the depositories by December 31, will not be able to trade on the stock exchanges from January one, 2007.

“Investors who do not provide their PAN by December 31, 2006, will not be able to debit their demat accounts and trade on the stock exchanges from January one,” an official release said here.

Under the “Know Your Client” norms, the Securities and Exchange Board of India has made Permanent Account Number (PAN) mandatory for opening demat accounts on or after April 1.

In respect of demat accounts opened before April 1, it is mandatory for the account holders to provide PAN to Depositories by December 31.

“Where PAN is not provided, the demat account would be ‘suspended for debit’ after December 31, 2006 till it is provided,” it said. PTI

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