Disclosure obligations require comprehensive, material information in municipal debt offer documents and lead manager due diligence. Regulation 6 requires draft offer documents and offer documents for municipal debt securities to contain true, fair and material disclosures necessary for informed investment decisions, including disclosures in Schedule I and Schedule IA and any additional disclosures specified by the Board; where the issuer is a body corporate governed by the Companies Act, 2013, documents must also include disclosures mandated by the Companies Act and related rules. Lead managers must exercise due diligence and ensure the veracity and adequacy of disclosures.
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Provisions expressly mentioned in the judgment/order text.
Disclosure obligations require comprehensive, material information in municipal debt offer documents and lead manager due diligence.
Regulation 6 requires draft offer documents and offer documents for municipal debt securities to contain true, fair and material disclosures necessary for informed investment decisions, including disclosures in Schedule I and Schedule IA and any additional disclosures specified by the Board; where the issuer is a body corporate governed by the Companies Act, 2013, documents must also include disclosures mandated by the Companies Act and related rules. Lead managers must exercise due diligence and ensure the veracity and adequacy of disclosures.
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