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Companies Act, 1973 (Act No. 61 of 1973)

Chapter VI: Offering of Shares and Prospectus

Prospectus

154. Signing, date and date of issue, of prospectus

 

 

1) A prospectus in respect of an offer for the subscription of shares of a company shall be signed by every person named therein as a director of the company or by his agent authorised by him in writing to sign on his behalf.

 

2) A prospectus in respect of any other offer of shares shall be signed by every person making such offer or by his agent authorised by him in writing to sign on his behalf or if the person making the offer is a company or firm, by two directors of such company, or if such company has only one director, by that director, or by not less than one-half of the partners in such firm or by an agent authorised by any such director or partner in writing to sign on his behalf.

 

3) Where a prospectus has been signed by or on behalf of directors of a company or partners in a firm as provided in subsection (2), every director of such company or partner in such firm shall be deemed to have authorised the issue of such prospectus notwithstanding that he has not signed it, unless he proves that it was issued without his knowledge, authority or consent.

 

4) Every signature to a prospectus shall be dated and the latest of such dates shall be deemed to be the date of the prospectus.

 

5) The date of registration of any prospectus in the Companies Registration Office shall, unless the contrary is proved, be taken as the date of the issue of the prospectus.