Regulation 18 - Prohibitions of mis-statements in the offer document or placement memorandum. - Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015

Prohibitions of mis-statements in the offer document 1 [ or placement memorandum ]. 18. (1) The offer document 2 [ or term sheet ] 1 [ or placement memorandum ] shall not omit disclosure of a material fact which may make the statements made therein misleading, 3 [***] . (2) The offer document or 4 [ term sheet ] or any advertisement issued by an issuer in connection with a public issue of debt securities shall not contain any false or misleading statement. 5 [ (3) The offer document or placement memorandum shall contain all material disclosures which are true, correct and adequate to enable the applicants to take an informed investment decision ] ************* NOTES:- 1. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019 2. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019 3. Omitted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019 before it was read as in light of the circumstances under which they are made 4. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019 before it was read as abridged prospectus 5. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019