Prospectus conditions: require salient features memorandum, expert written consent, and limited issuer liability for immaterial or unknown omissions.

Rule 8 requires that application forms for securities be accompanied by a memorandum of salient features of the prospectus, except when issued in connection with an invitation to enter into an underwriting agreement for IDRs; prospectuses containing expert statements must state that the expert gave written consent and did not withdraw it before filing with SEBI and the Registrar of Companies, New Delhi; issuers are not liable for non compliance if they prove lack of knowledge or if the Central Government considers the contravention immaterial.

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