Shelf Disclosure Document grants a time-limited exemption from separate disclosure filings for subsequent private placement tranches, with updated tranche disclosures. Regulation 21A allows an issuer making private placements of debt securities and seeking listing to file a Shelf Disclosure Document as per Schedule I; this filing creates a time-limited exemption from filing a separate disclosure document for subsequent private placement tranches, provided the issuer files with the stock exchange an updated disclosure document for each tranche containing tranche details and any material changes to the Shelf Disclosure Document.