Chapter IIIPUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES
Part APROVISIONS APPLICABLE TO PUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES (From Regulation 25 to Regulation 38 )
Regulation 31 - Prohibition on payment of incentives
Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 Part A PROVISIONS APPLICABLE TO PUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES
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Prohibition on incentives: issue-related incentives barred, but fees/commission allowed and limited interest/price discount permitted to specified initial investors. Regulation 31 prohibits persons connected with an issue from offering any incentive, direct or indirect, in cash, kind, services or otherwise, to induce ... Summary
Prohibition on incentives: issue-related incentives barred, but fees/commission allowed and limited interest/price discount permitted to specified initial investors.
Regulation 31 prohibits persons connected with an issue from offering any incentive, direct or indirect, in cash, kind, services or otherwise, to induce applications, while allowing fees or commission for services; an exception permits additional interest or an issue price discount for specified investor categories, available only to the initial allottee and not where the debt securities are transferred or transmitted post-allotment.
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