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of <h1>Section 33: Abridged prospectus required with security application forms, with investor rights to full prospectus and penalties</h1> Section 33 mandates that any application form for purchase of a company's securities must be accompanied by an abridged prospectus, ensuring investors receive essential information. This requirement does not apply where the form is issued for a bona fide invitation to enter an underwriting agreement, or for securities not offered to the public. Any person may request and must be furnished a copy of the full prospectus before closure of the subscription list and offer. Failure by the company to comply with these obligations attracts a penalty of fifty thousand rupees for each default.
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