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of <h1>Public Offer Rules: Apply to Stock Exchanges, Disclose in Prospectus, Use Funds Properly, No Waiver Allowed, Penalties for Non-Compliance.</h1> Every company making a public offer must apply to recognized stock exchanges for permission to deal with its securities. The prospectus must disclose the stock exchanges involved. Funds from public subscriptions must be held in a separate bank account and used only for securities allotment or refunded if allotment cannot occur. Any requirement for applicants to waive compliance with these provisions is void. Non-compliance results in fines for the company and possible imprisonment or fines for responsible officers. Companies can pay commissions for securities subscriptions under prescribed conditions.
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