Regulation 22B - Prohibition on payment of incentives - Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015

1 [Prohibition on payment of incentives 22B. Any person connected with the issue shall not offer any incentive, whether direct or indirect, in any manner, whether in cash or kind or services or otherwise to any person for making an application in the issue, except for fees or commission for services rendered in relation to the issue. ] ************** NOTES:- 1. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019