Section 27
of International Business Companies Order, 2000
Section 27
(1)
The Registrar shall not register a copy of any prospectus if it contains any statement or matter which is in his opinion misleading in the form and context in which it is included and unless –
(a)
a copy signed by every director and by every person who is named therein as a proposed director of the company or by his agent authorised in writing is lodged with the Registrar on or before the date of its issue;
(b)
the prospectus appears to comply with the requirements of this Order and the prescribed requirements; and
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
36
BLUV as at 20th June 2017
(c)
there is lodged with the Registrar a copy of any consent required by section 29 to the issue of the prospectus and any material contract referred to in the prospectus or, in the case of such a contract not reduced into writing, a memorandum giving full particulars thereof, verified as prescribed.
(2)
If a prospectus is issued without a copy thereof having been so registered, the
IBC or foreign international company and every person who is knowingly a party to the issue of the prospectus shall be guilty of an offence and liable on conviction to imprisonment for a term not exceeding two years or a fine not exceeding one hundred and fifty thousand dollars.
Document containing offer of shares to be deemed prospectus.