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Meaning Of "Public":
For the purposes of the prospectus issue the word "public" is declared by S.57 (1) to include "any section of the public, whether selected as members or debenture holders of the company concerned or as clients of the person issuing the prospectus or in any other manner."
In Re: South of England Natural Gas Co. Ltd (40) it was held that a document inviting applications for shares in certain gas companies was an offer to the public even though it was marked "for private circulation only." Conversely, a "circular" through which a company offered to acquire the shares of another company in exchange for its own shares was held not to be a "prospectus" within the statutory definition: Government Stock and other Securities Investment Co. Ltd v Christopher (41).
Return As To Allotments: Section 54 (1) provides that whenever a company limited by shares or a company limited by guarantee and having a share capital makes any allotment of
1. Tort reform refers to proposed changes in the civil system that would reduce tort litigation or damages. Proposals include, among other things,putting a cap on the amount a plai
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Give detail explanation of Credibility problem There are indications that such credibility problem stems from a tension between the goal of encouraging innovation and investme
Ben sold clothes at a market stall on weekends for a number of years. Two years ago business was very poor and Ben was forced to cease trading. Ben sold all of his remaining stock
Rules for Purchase of own shares: So now next despite the rule in Trevor V Whitworth a company may purchase or acquire its own shares in the following cases: a) Where it ac
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Presentment for Acceptance - Rules Relating To Acceptance Even though a bill must be presented to with acceptance and be accepted through the drawee in order to render him lia
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