https://www.taxtmi.com/acts?id=33794 Regulation 5 conditions public issuance of municipal debt securities on financial eligibility: the issuer must demonstrate surplus income in any one of the immediately preceding three financial years or satisfy alternative financial criteria prescribed by the Board; corporate issuers under company law must not have negative net worth in any of those years; where a corporate municipal entity or Special Purpose Vehicle raises funds for a person entrusted under Article 243W, the person being financed must meet the clause (a) requirements. The Board may specify additional conditions from time to time. en-us Mon, 24 Dec 2018 13:03:27 +0530 Mon, 12 Aug 2024 15:29:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=33794 Regulation 5 conditions public issuance of municipal debt securities on financial eligibility: the issuer must demonstrate surplus income in any one of the immediately preceding three financial years or satisfy alternative financial criteria prescribed by the Board; corporate issuers under company law must not have negative net worth in any of those years; where a corporate municipal entity or Special Purpose Vehicle raises funds for a person entrusted under Article 243W, the person being financed must meet the clause (a) requirements. The Board may specify additional conditions from time to time. Act-Rules SEBI Mon, 24 Dec 2018 13:03:27 +0530 https://www.taxtmi.com/acts?id=33794