Singapore legislation
Clause 37
Clause 37
Requirement to issue form of application for shares or debentures with a prospectus
(1)
A person shall not issue, circulate or distribute any form of application for shares in or debentures of a corporation unless the form is issued, circulated or distributed together with a prospectus a copy of which has been registered by the Registrar.[U.K.s. 38 (3), (5).][Aust. s. 37.]
(2)
Subsection (1) of this section shall not apply if —
the form of application is issued, circulated or distributed in connection with shares or debentures which are not offered to the public;
the form of application is issued, circulated or distributed in connection with a take-over scheme which complies with the provisions of this Act applicable to such schemes;but otherwise that subsection shall apply to any such form of application whether issued, circulated or distributed on or with reference to the formation of a corporation or subsequently.
(3)
Any person who contravenes the provisions of subsection (1) of this section shall be guilty of an offence and shall be liable on conviction to imprisonment for a term not exceeding two years or to a fine not exceeding five thousand dollars.