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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.
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.
<h1>Allotment of securities: minimum subscription and receipt of application monies required, with prescribed refund and filing obligations.</h1> 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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