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TMI BlogRedemption and roll-overX X X X Extracts X X X X X X X X Extracts X X X X ..... s to roll-over the municipal debt securities issued, it shall do so only upon passing of a special resolution to that effect and give twenty one days' notice of the proposed roll over to the holders of municipal debt securities: Provided that, if the holders of municipal debt securities do not provide consent for the proposed roll over within the notice period, the issuer shall redeem the munici ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redit rating agency within a period of six months prior to the due date of redemption and is disclosed in the notice referred to in sub-regulation (2); (c) fresh trust deed shall be executed at the time of such roll over or the existing trust deed may be continued if the trust deed provides for such continuation; (6) The issuer shall redeem the municipal debt securities of all the holders, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssuer is a municipality, if the holders of debt securities do not provide consent for the proposed roll over within the notice period, the issuer shall redeem the debt securities of such holders. (3) The notice referred to in sub- regulation (2) shall contain disclosures with regard to credit rating and rationale for roll-over. (4) The issuer being a corporate municipal entity shall, prior to se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned from a credit rating agency within a period of six months prior to the due date of redemption and is disclosed in the notice referred to in sub-regulation (2); (c) fresh trust deed shall be executed at the time of such roll over or the existing trust deed may be continued if the trust deed provides for such continuation ; (d) adequate security shall be created or maintained in respect of suc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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