Shelf prospectus allows further offers without fresh prospectus, subject to information memorandum and refund rights for applicants. A company may file a shelf prospectus at the first offer for securities of the class, valid up to one year from that opening, allowing subsequent offers within that period without a new prospectus. Prior to any second or subsequent offer the company must file an information memorandum with the Registrar disclosing material facts about new charges, changes in financial position and other prescribed changes; applicants who paid in advance before such changes must be informed and may withdraw for a refund within fifteen days. Each information memorandum together with the shelf prospectus is deemed to be the prospectus for that offer.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Shelf prospectus allows further offers without fresh prospectus, subject to information memorandum and refund rights for applicants.
A company may file a shelf prospectus at the first offer for securities of the class, valid up to one year from that opening, allowing subsequent offers within that period without a new prospectus. Prior to any second or subsequent offer the company must file an information memorandum with the Registrar disclosing material facts about new charges, changes in financial position and other prescribed changes; applicants who paid in advance before such changes must be informed and may withdraw for a refund within fifteen days. Each information memorandum together with the shelf prospectus is deemed to be the prospectus for that offer.
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