Section 9 in Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
9. Advertisements for public issues.
(1)The issuer may make an advertisement in a national daily with wide circulation, on or before the issue opening date and such advertisement shall, amongst other things, contain the disclosures as per Schedule IV.(2)No issuer shall issue an advertisement which is misleading in material particular or which contain any information in a distorted manner or which is manipulative or deceptive.(3)The advertisement shall be truthful, fair and clear and shall not contain a statement, promise or forecast which is untrue or misleading.(4)Any advertisement issued by the issuer shall not contain any matters which are extraneous to the contents of the offer document.[***] [Omitted '(5)' by Notification No. SEBI/LAD-NRO/GN/2019/40, dated 27.9.2019 (w.e.f. 15.7.2015).](6)Any promotional or educative advertisement issued by the issuer during the subscription period shall not make any reference to the issue of [municipal debt securities] [Substituted 'revenue bonds' by Notification No. SEBI/LAD-NRO/GN/2019/40, dated 27.9.2019 (w.e.f. 15.7.2015).] or be used for solicitation.
