Appointment of merchant banker: lead managers must be registered, disclose conflicts, and associates limited to marketing the issue. Issuers must appoint one or more merchant bankers registered with the Board as lead manager(s), with predetermined and disclosed rights and obligations where multiple lead managers exist; lead managers must independently assess and, with the issuer, appoint other registered intermediaries. A sole lead manager may not be an associate of the issuer; where multiple lead managers are appointed at least one must not be an associate; if a lead manager is an associate it must disclose that status and its role is limited to marketing the issue.
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Provisions expressly mentioned in the judgment/order text.
Appointment of merchant banker: lead managers must be registered, disclose conflicts, and associates limited to marketing the issue.
Issuers must appoint one or more merchant bankers registered with the Board as lead manager(s), with predetermined and disclosed rights and obligations where multiple lead managers exist; lead managers must independently assess and, with the issuer, appoint other registered intermediaries. A sole lead manager may not be an associate of the issuer; where multiple lead managers are appointed at least one must not be an associate; if a lead manager is an associate it must disclose that status and its role is limited to marketing the issue.
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