Advertisement-as-prospectus: prospectus provisions apply to deposit advertisements, subject to specific deposit rules and liabilities extend accordingly. Advertisements inviting or accepting public deposits are treated as prospectuses and, generally, prospectus provisions apply to them. However, the qualifier 'so far as may be' means that where specific requirements are prescribed by the Acceptance of Deposits Rules or deposit-specific provisions, those requirements govern and displace corresponding prospectus provisions (for example, prescribed form requirements override general prospectus disclosure schedules). Civil and criminal liabilities for misstatements and penalties for fraudulent inducement apply to deposit advertisements mutatis mutandis unless superseded by specific deposit rules.
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.
Advertisement-as-prospectus: prospectus provisions apply to deposit advertisements, subject to specific deposit rules and liabilities extend accordingly.
Advertisements inviting or accepting public deposits are treated as prospectuses and, generally, prospectus provisions apply to them. However, the qualifier "so far as may be" means that where specific requirements are prescribed by the Acceptance of Deposits Rules or deposit-specific provisions, those requirements govern and displace corresponding prospectus provisions (for example, prescribed form requirements override general prospectus disclosure schedules). Civil and criminal liabilities for misstatements and penalties for fraudulent inducement apply to deposit advertisements mutatis mutandis unless superseded by specific deposit rules.
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