Section 15
of Securities Markets Regulations, 2015
Section 15
(1)
If there arises or is noted a significant new factor, material mistake or inaccuracy relating to information included in a prospectus approved by the
Authority, the person on whose application the prospectus was approved must, in accordance with prospectus regulations, submit a supplementary prospectus containing details of the new factor, material mistake or inaccuracy to the
Authority for its approval within a relevant period.
(2)
The relevant period begins when the prospectus is approved by the
Authority and ends
(a)
with the closure of the offering of the securities to which the prospectus relates; or
(b)
when trading in those securities on a regulated market begins.
(3)
Any person responsible for the prospectus who is aware of any new factor, material mistake or inaccuracy that may require the submission of a supplementary prospectus must give notice of it to the issuer of the securities to which the prospectus relates, and the person on whose application the prospectus was approved.
(4)
A supplementary prospectus must provide sufficient information to address the new factor, correct any material mistake or inaccuracy that gave rise to the need for it.
(5)
An investor has a right to withdraw his acceptance after a supplementary prospectus is published.
Responsibility of experts.