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    <title>Registrar to the Issue</title>
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    <description>The issuer must appoint a Registrar to the Issue registered with the Board and having connectivity with all depositories. An issuer that is itself a Registrar cannot appoint itself as Registrar to its own issue. A lead manager may not act as Registrar to the Issue when it is also handling post-issue responsibilities, ensuring separation between issuance and post-issuance functions.</description>
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      <description>The issuer must appoint a Registrar to the Issue registered with the Board and having connectivity with all depositories. An issuer that is itself a Registrar cannot appoint itself as Registrar to its own issue. A lead manager may not act as Registrar to the Issue when it is also handling post-issue responsibilities, ensuring separation between issuance and post-issuance functions.</description>
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