Share application form requirement: attach detachable application to abridged prospectus with identical numbering to ensure investor disclosure. Companies must not issue share or debenture application forms unless accompanied by an abridged prospectus under section 56(3) of the Companies Act, 1956. The application form should be attached to the abridged prospectus along a perforated line, bear the same printed number, and be detachable only after the investor has had an opportunity to study the abridged prospectus. The same procedure applies to copies of the prospectus; contravention attracts a penal fine and Registrars are to ensure compliance and prosecute defaults.
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Share application form requirement: attach detachable application to abridged prospectus with identical numbering to ensure investor disclosure.
Companies must not issue share or debenture application forms unless accompanied by an abridged prospectus under section 56(3) of the Companies Act, 1956. The application form should be attached to the abridged prospectus along a perforated line, bear the same printed number, and be detachable only after the investor has had an opportunity to study the abridged prospectus. The same procedure applies to copies of the prospectus; contravention attracts a penal fine and Registrars are to ensure compliance and prosecute defaults.
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