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of <h1>Private Company Must File Prospectus Within 30 Days After Altering Articles; Non-compliance Leads to Fines or Imprisonment.</h1> When a private company alters its articles such that it no longer meets the criteria of a private company, it ceases to be private and must file a prospectus or a statement in lieu of a prospectus with the Registrar within 30 days. The prospectus must include specified matters and reports, and any adjustments must be explained. Failure to comply results in fines, and filing untrue statements can lead to imprisonment or fines. Statements are deemed untrue if misleading or if omissions are calculated to mislead. The term 'included' refers to content directly in or referenced by the prospectus.
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