Allotment of securities: minimum subscription and receipt of application monies required, with prescribed refund and filing obligations. Allotment of public-offered securities requires subscription of the prospectus-stated minimum amount and receipt of application monies by cheque or other instrument; application payments per security must meet a regulatory minimum. If minimum subscription or receipt of application monies fails within the specified period, amounts received must be returned as prescribed. Companies making allotments must file a prescribed return of allotment with the Registrar, and default on refund or filing attracts daily penalties for the company and the officer in default.
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Provisions expressly mentioned in the judgment/order text.
Allotment of securities: minimum subscription and receipt of application monies required, with prescribed refund and filing obligations.
Allotment of public-offered securities requires subscription of the prospectus-stated minimum amount and receipt of application monies by cheque or other instrument; application payments per security must meet a regulatory minimum. If minimum subscription or receipt of application monies fails within the specified period, amounts received must be returned as prescribed. Companies making allotments must file a prescribed return of allotment with the Registrar, and default on refund or filing attracts daily penalties for the company and the officer in default.
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