| 1) |
A prospectus must adhere to the specifications of Schedule 3 and contain all information that an investor may reasonably require to assess- |
| a) |
a company in which a right or interest is to be acquired, its assets and liabilities, financial position, profits and losses, cash flow and prospects; and |
| b) |
the shares and the rights attached to them. |
| 2) |
As long as an offer remains open, any person responsible for information in the prospectus must, when that person becomes aware of it- |
| b) |
report on any new matter; and |
| c) |
report on any change of a matter included in the prospectus, |
if these are relevant or material in terms of Schedule 3.
| 3) |
A correction or report in terms of subsection (2) must be registered as a supplement to the prospectus, simultaneously published to known recipients of the prospectus and included in future distributions of the prospectus. |
| 4) |
Subject to section 148A, any person who knowingly is a party to the issue of a prospectus in contravention of this section shall be guilty of an offence. |
National Student Financial Aid Scheme Act, 1999
