Regulation 18B - Issuer contribution - Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015

1 [Issuer contribution 18B. The contribution of the issuer for each issuance of municipal debt securities shall not be less than twenty per cent. of the project costs, which shall be contributed from their internal resources or grants that may be in cash or kind. ] ************** NOTES:- 1. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019