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Registration of the Prospectus (Section 60): - Prospectus And Statement In Lieu Of Prospectus
Business Environment and Law-Prospectus And Statement In Lieu Of Prospectus
Registration of the Prospectus (Section 60): - Prospectus And Statement In Lieu Of Prospectus
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A copy of the prospectus duly signed by every director or proposed directors must be delivered to the registrar before its publication.
Registration of the Prospectus (Section 60):
A copy of the prospectus duly signed by every director or proposed directors must be delivered to the registrar before its publication.
Is the issue of prospectus compulsory?: when prospectus is not required to be issued?
The following are the circumstances:
A private company
If the promoters or directors feel that they can mobilize resources through personal relationship and contacts.
A Memorandum containing the prescribed salient features of a prospectus.
A bonafide invitation to a person to enter into an underwriting agreement Sec.56(3)
Application form is issued in relation to shares or debentures not offered to the public [Sec. 56(3)]
Offered to existing holders of shares or debentures[Sec. 56(5)]
The issue relates to shares or debentures previously issued [Sec. 56(5)]
Where invitation is made in the form of an advertisement, ordinarily called as “prospectus announcement’ [Sec. 66].
A copy of the prospectus duly signed by every director or proposed directors must be delivered to the registrar before its publication.
Is the issue of prospectus compulsory?: when prospectus is not required to be issued?
The following are the circumstances:
A private company
If the promoters or directors feel that they can mobilize resources through personal relationship and contacts.
A Memorandum containing the prescribed salient features of a prospectus.
A bonafide invitation to a person to enter into an underwriting agreement Sec.56(3)
Application form is issued in relation to shares or debentures not offered to the public [Sec. 56(3)]
Offered to existing holders of shares or debentures[Sec. 56(5)]
The issue relates to shares or debentures previously issued [Sec. 56(5)]
Where invitation is made in the form of an advertisement, ordinarily called as “prospectus announcement’ [Sec. 66].
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