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of <h1>Companies Bill 2011: Clause 388 mandates expert consent for foreign company prospectuses in India, aligning with sections 33 and 40.</h1> Clause 388 of the Companies Bill, 2011, addresses the issuance of prospectuses for securities of companies incorporated outside India. It prohibits the distribution of such prospectuses in India unless an expert's statement included in the prospectus is accompanied by the expert's written consent, which must not be withdrawn before registration. Additionally, the prospectus must ensure that all parties involved are bound by the relevant provisions of sections 33 and 40. A statement is considered part of the prospectus if it appears directly or is incorporated by reference within it.
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