Section 37

A prospectus issued by or on behalf of a company or in relation to an intended company shall be dated and that date shall, unless the a contrary is proved, be taken as the date of publication of the prospectus.

A copy of every such prospectus signed by every person who is named therein as a director or proposed director of the company, or by his agent authorised in writing, shall be delivered to the Registrar for registration on or before the date of its publication and no such prospectus shall be issued until a copy thereof has been so delivered for registration.

52

Companies

The Registrar shall not register any prospectus unless it is dated, and the copy thereof signed, in manner required by this section.

Every prospectus shall state on the face of it that a copy has been delivered for registration as required by this section.

If a prospectus is issued without a copy thereof being so delivered, the company and every person who is knowingly a party to the issue of the prospectus is guilty of an offence and liable on conviction to a fine of $25 for every day from the date of the issue of the prospectus until a copy thereof is so delivered.