Section 25 in Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
25. [ Trading and reporting of municipal debt securities. [Substituted by Notification No. SEBI/LAD-NRO/GN/2019/40, dated 27.9.2019 (w.e.f. 15.7.2015).]
(1)The debt securities issued to the public or on a private placement basis, which are listed in recognised stock exchanges, shall be traded and such trades shall be cleared and settled in recognised clearing corporation subject to conditions specified by the Board.(2)The trading lot for privately placed debt securities shall be rupees one lakh or such amount as may be specified by the Board.(3)In case of trades of debt securities which have been made over the counter, such trades shall be reported on a recognised stock exchange having a nationwide trading terminal or such other platform as may be specified by the Board from time to time.(4)The information in respect of issues such as issuer details, instrument details, ratings, rating migration, coupon, buyback, redemption details, shall be required to be reported to a common database with depositories or any other platform as may be specified by the Board.]
