Non applicability of public issue provisions: depository receipt offers exempt from prospectus rules, overseas depository bank entered as member. Provisions of the Companies Act relating to public issues of shares or debentures do not apply to issues of depository receipts; offer documents for ... Summary
Non applicability of public issue provisions: depository receipt offers exempt from prospectus rules, overseas depository bank entered as member.
Provisions of the Companies Act relating to public issues of shares or debentures do not apply to issues of depository receipts; offer documents for depository receipts are not treated as prospectuses or offer documents under the Act. Until redemption of depository receipts, the overseas depository bank must be entered in the company's Register of Members.
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