- Dating of prospectus:- As per section 5s, a prospectus issued by or on behalf of a company or in relation to an intended company must be dated. The section further provides that the date on the prospectus shall, unless contrary is proved, be taken as the date if the publication of the prospectus.
- Registration of prospectus:- section 60 of the Act deals with the registration of prospectus with the Registrar of Companies. it requires:-
1) Delivery of a copy of the prospectus to the Registrar of Companies on or before the date of its issue. The copy of prospectus so delivered, should be signed by all the persons named therein as director or proposed director
2) The prospectus so delivered should be accompanied by (a) consent of every expert referred to in section 58 of the Act; (b) prospectus, in case any of the contracts has not been reduced to writing, a Memorandum of Association setting out full particulars of the contract and (c) adjustment made in financial statements required to be included in the prospectus duly signed by the person(s) making the report thereon, with reasons.
Section 60(3) provides that the Registrar of Companies will not register a prospectus if
(i) It is not dated
(ii) It does not comply with the requirements of section 56 as to the matters and reports to be set out in it, viz, Schedule II requirements;
(iii) It contains statements or reports of experts engaged or interested in the formation or promotion or management public the company [section 57];
(iv) It includes a statement purported to be made by an expert without a statement that he has given and has not withdrawn his consent to the manner of its inclusion therein. [section 58];
(v) A copy delivered to the Registrar of Companies is not signed by every persons who is named threin as a director or proposed director of the company or by his agent authorized in writing.
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