March 14, 2019 | Investopaper
Securities Board of Nepal issued a press statement today (Falgun 30, 2075) regarding the implementation of Permanent Account Number (PAN).
The board, in the statement, conveyed the directive that the PAN will be compulsory for the transaction in Secondary Market above Rs. 5 lakh in one time. For other investors trading below Rs. 5 lakh in one transaction, PAN will be voluntary. Earlier, SEBON had implemented the compulsory PAN requirement while trading in the Secondary Market.
After the necessary discussion with the investors and related stakeholders, the board remained flexible for the compulsory PAN implementation.
The implementation of PAN above Rs. 5 Lakh in one transaction will be applicable from Baisakh 1, 2076.