Section 23
of International Business Companies Order, 2000
ORDERIn forceProvision 23 of 189
Section 23
(1)
Subject to section 21, a person shall not issue, circulate or distribute any form of application for shares in or debentures of an IBC or a foreign international company unless the form is issued, circulated or distributed together with a prospectus a copy of which has been approved and registered by the Registrar, and any person who contravenes this section shall be guilty of an offence and liable on conviction to imprisonment for a term not exceeding two years, a fine not exceeding one hundred and fifty thousand dollars or both.
Invitations to public to lend money to or deposit money with an IBC or a foreign international company, Approval of Registrar.