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

SECURITIES INDUSTRY [CH.363 – 43
(a) that an offer of the securities or of any of them
for sale to the public was made within six months
after the allotment or agreement to allot; or
(b) that at the date when the offer was made to the
public the whole consideration to be received by
the issuer in respect of the securities had not been
so received.
(3) Section 54 as applied by this section shall have
effect as if it required a prospectus to state in addition to
the matters required by that section to be stated in a
prospectus —
(a) the net amount of the consideration received or
to be received by the issuer in respect of the
securities to which the offer relates; and
(b) the place and time at which the contract under
which the said securities have been or are to be
allotted may be inspected,
and section 56 as applied by this section shall have effect as
though the persons making the offer were persons named in
a prospectus as a chief executive officer or chief financial
officer or directors or managers or partners of an issuer.
(4) Where a person making an offer to which this
section relates is a company or a partnership, it shall be
sufficient to establish the document as a prospectus for the
purposes of this section if the document is signed on behalf
of the company or the partnership by any officer of the.
company as defined in section 2 of the Companies Act, or
by a majority of partners, as the case may be, and any of
the foregoing persons may sign by his agent authorised by
him in writing.
60. For the purposes of the foregoing provisions of
this Part —
(a) a statement included in a prospectus shall be
deemed to be untrue if it is misleading in the
form and context in which it is included or omits
any material facts; and
(b) a statement shall be deemed to be included in a
prospectus if it is contained therein or in any
report or memorandum appearing on the face
thereof or by reference incorporated therein or
issued therewith.
Ch. 308.
Interpretation of
prospectus.
[Original Service 2001]
STATUTE LAW OF THE BAHAMAS