Private Placement

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..... 5 "Private Placement" shall mean- * any offer of municipal debt securities or * invitation to subscribe to municipal debt securities to a select group of persons by an issuer through is .....

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..... r or invitation made in terms of section 42 of the Companies Act, 2013 and the rules made thereunder, through issue of a placement memorandum; (ii) any offer or invitation made to qualified instituti .....

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