Advertisements for public issues :

• 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 of these regulations.

• 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.

• The advertisement shall be truthful, fair and clear and shall not contain a statement, promise or forecast which is untrue or misleading.

• Any advertisement issued by the issuer shall not contain any matters which are extraneous to the contents of the offer document.

• The advertisement shall urge the investors to invest only on the basis of information contained in the offer document.

• Any promotional or educative advertisement issued by the issuer during the subscription period shall not make any reference to the issue of revenue bonds or be used for solicitation.