Uniform Know Your Client (“KYC”) requirements No. 40/2011-12

Company Name(s): 

Addendum
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
No. 40/2011-12 January 11, 2012
Uniform Know Your Client (“KYC”) requirements
Pursuant to SEBI Circular No. MIRSD/SE/Cir-21/2011 dated October 05, 2011, on ‘Uniform Know Your
Client (KYC) Requirements for the Securities Market and ‘The Securities and Exchange Board of India
(KYC Registration Agency) Regulations, 2011’ communicated vide SEBI Circular No. MIRSD/Cir-23/2011
dated December 2, 2011 and the guidelines issued thereon vide SEBI Cricular no. MIRSD/Cir-26/2011
dated December 23, 2011, the following uniform KYC requirements (hereinafter referred to as ‘KYC
Compliance’) effective from January 1, 2012 for investments made in the Scheme(s) / Plan(s) of UTI
Mutual Fund:-
1. Existing investors in Mutual Funds:
Existing investors in mutual funds who have already complied with the KYC requirement
(hereinafter referred as ‘KYC Compliant’) and having the KYC Compliance Letter issued by CDSL
Ventures Limited (CVL) are exempt from following the new KYC procedure effective January 01,
2012 but only for the purpose of making additional investment in the Scheme(s) / Plan(s) of any
Mutual Fund registered with SEBI. However, if an investor so desires to complete the new KYC
requirements on his/her own volition.
If the KYC Compliant applicable to Mutual Funds prior to January 1, 2012 would like to deal with
any other SEBI registered intermediary other than Mutual Funds, they will have to complete the
new KYC requirements.
2. New investors in Mutual Funds:
All investors other than existing KYC Compliant as defined above are required to complete the new
KYC requirements as mentioned below while making any investment in any of the Schemes (s) /
Plan(s) of UTI Mutual Fund.
Addendum
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
(a) KYC Application Form:
Fill up and sign the KYC application form (as applicable for individual investors or non-individual
investors) available on the UTI Mutual Fund’s website, www.utimf.com or the website of the
present KYC Registration Agency (KRA) M/s CVL, www.cvlkra.com. Further details on filling up /
submission of KYC Application form are available in SEBI Circular no. MIRSD/SE/Cir-21/2011
dated October 5, 2011.
(b) In Person Verification (IPV):
Please note that as per SEBI Circular No. MIRSD/Cir-26/2011 dated December 23, 2011, it is
mandatory for SEBI registered intermediaries to carry out IPV of any investor dealing with a SEBI
registered intermediary for investments in a mutual fund. Unless the IPV process is completed, the
investor will not be considered as KYC Complaint under the new KYC compliance procedure and
hence will not be permitted to make any investment in any of the scheme(s) / plan(s) of UTI Mutual
Fund.
Accordingly, following persons/s are authorized to carry out the IPV on the KYC application form
submitted along with the scheme application form of UTI Mutual Fund.
(i) All Officers of UTI AMC and
(ii) Distributors who are empanelled with UTI AMC, having valid certification of National
Institute of Securities Market (NISM) or Association of Mutual Funds in India (AMFI), and
who have complied with the process of Know Your Distributor (KYD).
If IPV is carried out by the Distributors, then,
(i) The Distributor must have complied with the certification process of NISM or AMFI.
(ii) The Distributor had undergone the process of KYD.
(iii) The Distributor is empanelled with UTI AMC.
(iv) The investment is/was made by the investor through the same Distributor.
(v) The Distributor should exercise necessary due diligence while carrying out IPV which will
form part of Code of Conduct prescribed for the Distributors.
Addendum
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
(vi) The verification of documents (Proof of Identity and Proof of Address) with the original shall
be carried out by Officers of UTI AMC / RTA at the OPA.
In case of Direct applications (scheme), the IPV can also be carried out by a scheduled
Commercial bank where the investor is having account (as per the bank account details provided
by the investor), in addition to all Officers of UTI AMC.
( c ) Attestation of documents:
The investor is required to submit self attested copies of supporting documents such as proof of
identity, address proof etc. (as specified in SEBI’s circular ref. no. MIRSD/SE/Cir-21/2011 dated
October 05, 2011), along with the original documents to the Official Point of Acceptance (OPA) for
verification. The accepting authority at the OPA will verify the self attested copies with the original,
will affix stamp of “Verified with original” on each document along with the signature and seal
containing name and designation and return the original. However, if the investor submits the
original utility bills etc. without asking to return, self attested copies need not be insisted/submitted.
However, if the investor is not able to bring the original documents to the OPA for verification, he
may get the same attested from any of the following authorities:
(i) Notary public, Gazetted Officer, Manager of a scheduled commercial or multinational
foreign banks (name, designation & seal should be affixed on the copy).
(ii) In case of NRIs, authorized officials of overseas branches of scheduled commercial banks
registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy/Consulate
general in the country where the client resides are permitted to attest the documents.
(d) Submission:
The duly filled in KYC Application Forms (IPV completed) along with the supporting documents
can be submitted together with the fresh investment application form / details / proof of existing
investment at any of the official Point of Acceptance (OPA) of UTI Mutual Fund. The list of
OPAs is available on www.utimf.com.
Addendum
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
It is clarified that only in respect of the following categories of investors, the KYC application
form will be accepted by UTI AMC or their Registrar:
a) KYC application form if submitted along with fresh purchase form / additional purchase
form / SIP / Micro SIP form with or without cheque (in case of direct debit / ECS) / STRIP
form etc / switch request.
b) In case of death claim settlement, KYC application form of nominee / legal heir may be
accepted, if he / she decides to continue in the scheme.
c) The investor has live units in the existing folio and submits KYC application form.
However, standalone KYC application form will not be accepted.
On submission of the above, UTI AMC / RTA will upload the KYC information on the system of
the KRA and issues a temporary acknowledgement to the investor. UTI AMC / RTA will forward
the documents to KRA within 10 working days.
(e) Acknowledgement:
Once all the documents are received and verified by a KRA, they will send a letter to the
investor within 10 working days from the date of receipt of necessary documents by them from
UTI AMC or its RTA informing the investor either about compliance by the investor of the new
KYC compliance procedure (“final acknowledgement”) or any deficiency in submission of
details or documents. On the basis of the temporary acknowledgement or the final
acknowledgement, the investor may be eligible to deal with any of the SEBI intermediaries as
mentioned in the above referred SEBI circulars.
(f) Applicability:
The new KYC guidelines shall not be applicable to the following categories / transactions:
· The investors falling under the category of Micro Pension (as per the arrangement
between UTI AMC with the respective organization/s), who are exempt from the
requirement of PAN.
· Investments received from Government bodies/authorities/Departments in favour of
beneficiaries identified by them.
Addendum
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
· Bonus/dividend reinvestment
· Existing Systematic Investment Plan (SIP) / Systematic Transfer Investment Plan (STRIP)
/ Dividend Transfer Plan (DTP) registrations (and similar facilities) including those received
till 31st December 2011.
· Renewal Contribution received under UTI Unit Linked Insurance Plan (UTI-ULIP) of
Investors registered under UTI ULIP upto 31st December 2011.
All other terms and conditions of the Scheme Information Document(s) (SID) / Statement of Additional
Information (SAI) / Key Information Memorandum (KIM) of the Schemes of the Fund will remain
unchanged.
This addendum shall form an integral part of the SAI & SID / KIM of all the schemes of UTI Mutual Fund
and shall be read in conjunction with the respective SID / KIM and SAI.
For UTI Asset Management Company Ltd
Sd/-
Authorised Signatory
In case of any further information is required, the nearest UTI Financial Centre may please be contacted.