Singapore legislation
Clause 42
Clause 42
Registration of prospectus
(1)
A prospectus shall not be issued, circulated or distributed by any person unless a copy thereof has first been registered by the Registrar.[U.K.s. 41.][Aust. s. 42.]
(2)
The Registrar shall not register a copy of any prospectus if it contains any statement or matter which is in his opinion misleading in the form and context in which it is included and unless —
the copy signed by every director and by every person who is named therein as a proposed director of the corporation or by his agent authorized in writing is lodged with the Registrar on or before the date of its issue;
the prospectus appears to comply with the requirements of this Act;
there are also lodged with the Registrar copies verified as prescribed of any consents required by section 45 to the issue of the prospectus and of all material contracts referred to in the prospectus or, in the case of such a contract not reduced into writing, a memorandum giving full particulars thereof verified as prescribed.
(3)
If a prospectus is issued without a copy thereof having been so registered the corporation and every person who is knowingly a party to the issue of the prospectus shall be guilty of an offence under this Act and shall be liable on conviction to imprisonment for a term not exceeding six months or to a fine not exceeding one thousand dollars.
(4)
Every corporation shall cause a true copy of every document referred to in paragraph (c) of subsection (2) of this section to be deposited within seven days after registration of the prospectus at the registered office of the corporation in Singapore and if it has no registered office in Singapore at the address in Singapore specified in the prospectus for that purpose and shall keep each such copy, for a period of at least six months after the registration of the prospectus, for the inspection of the members and creditors of the corporation without fee.