InvestorQ : Can my son operate the demat account on my behalf?
Mahil Khan made post

Can my son operate the demat account on my behalf?

Answer
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Arya Nanda answered.
2 years ago


The question is a tad unclear. What do you mean by the question? There are 2 possibilities for this question. Firstly, you want to know if your son can use your demat account just as he uses your car or your blazer? The answer is NO. Only you can use the demat account that is in your name. If your son is a major then he can have a demat account in his own name and he can manage it the way he likes. If your son operates on your behalf, in the eye of law you are still responsible. You cannot just ask someone to open your demat or trading account. That is not the right way to do things.
If your question is whether you can authorize your son to operate the demat account on your behalf, the answer is yes. You can also authorize another person to operate the demat account on your behalf by giving them the power of attorney. This is a stamped document that is executed and which permits the beneficiary of the POA agreement to buy and sell shares on your behalf. This is useful in case you are going abroad and require the transactions to happen as per your instruction in your demat account.