Offer of sale of shares: member-driven public offer treated as company prospectus, attracting prospectus content and liability rules. Members may, in consultation with the Board, offer whole or part of their shareholding to the public following applicable law and prescribed procedure; any document effecting the offer is treated as a prospectus subject to prospectus content requirements and liability for misstatements or omissions, and the members must collectively authorise the company to act on their behalf and reimburse company expenses incurred for the offer of sale.
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.
Offer of sale of shares: member-driven public offer treated as company prospectus, attracting prospectus content and liability rules.
Members may, in consultation with the Board, offer whole or part of their shareholding to the public following applicable law and prescribed procedure; any document effecting the offer is treated as a prospectus subject to prospectus content requirements and liability for misstatements or omissions, and the members must collectively authorise the company to act on their behalf and reimburse company expenses incurred for the offer of sale.
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