Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 Chapter V REQUIREMENTS FOR BOTH PUBLIC ISSUES AND PRIVATE PLACEMENT
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Day count convention must be Actual/Actual for municipal debt securities; calculation to follow board-specified method. Regulation 22A requires that interest payments on municipal debt securities, for both public issues and private placements, be calculated using the ... Summary
Day count convention must be Actual/Actual for municipal debt securities; calculation to follow board-specified method.
Regulation 22A requires that interest payments on municipal debt securities, for both public issues and private placements, be calculated using the Actual/Actual day count convention; the detailed manner of applying Actual/Actual shall be as specified by the Board and must be followed by issuers and market participants.
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