Section 26
of International Business Companies Order, 2000
Section 26
(1)
An IBC or a foreign international company shall not accept or retain subscriptions to a debenture issue in excess of the amount of the issue as disclosed in the prospectus unless the company has specified in the prospectus –
(a)
that it expressly reserves the right to accept or retain over-subscriptions;
and
(b)
a limit on the amount of the over-subscription that may be accepted or retained.
(2)
Where an IBC or a foreign international company specifies in a prospectus relating to a debenture issue that it reserves the right to accept or retain over-subscriptions the prospectus shall contain a statement or reference as to what the total assets and total liabilities of the company would be if over-subscriptions to the limit specified in the prospectus were accepted or retained.
Registration of prospectus.