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 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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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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