Securities Industry Act - The Bahamas Laws On-Line - The ...

SECURITIES INDUSTRY [CH.363 – 35
(9) Every company incorporated in The Bahamas
and every partnership or joint venture or syndicate or trust
or other issuer established in The Bahamas that issues
securities to the public in any other jurisdiction shall
comply with the provisions of this section and any
regulations made thereunder:
Provided that securities issued in jurisdictions prescribed
by the Commission pursuant to section 18 are
exempt from complying with this subsection.
(10) In any particular class of securities or issuers, the
Commission shall have the authority —
(a) to require any additional information to be
included in the prospectus; or
(b) to permit the omission of any items of information.
(11) Upon written application by an issuer, the
Commission shall have the authority to exempt such issuer
from any of the requirements of this section.
55. (1) A prospectus inviting persons to subscribe
for securities and which includes a statement purporting to
be made by an expert shall not be published unless
(a) such expert has given his consent in writing and
has not, before delivery of the prospectus for
registration, withdrawn his written consent to
the publication thereof with the statement
included in the form and context in which it is
included; and
(b) a statement that he has given and has not
withdrawn his consent as aforesaid appears in
the prospectus.
(2) If any prospectus is published in contravention of
this section, the issuer and every person who is knowingly a
party to the publication thereof is guilty of an offence and
shall be liable on summary conviction to a fine of ten
thousand dollars.
(3) In this Part the expression “expert” includes
engineer, valuer, accountant, counsel and attorney and any
other person whose profession gives authority to a
statement made by him.
Expert’s consent
to issue of
prospectus
containing
statement by
him.
[Original Service 2001]
STATUTE LAW OF THE BAHAMAS