New FLASH SALE Dhamaka - Flat 60% Off on All Courses

    Question

    A Shelf Prospectus is filed with the Registrar

    _______________ and shall indicate a period ______________ as the period of validity of such prospectus which shall commence from the date of opening of the first offer of securities under that prospectus
    A Prior to the issue of Prospectus and of six months Correct Answer Incorrect Answer
    B Prior to the issue of Prospectus and of six months Correct Answer Incorrect Answer
    C Prior to the issue of Prospectus and not exceeding one year Correct Answer Incorrect Answer
    D At the stage of first offer of securities and exceeding one year Correct Answer Incorrect Answer
    E At the stage of first offer of securities and not exceeding one year Correct Answer Incorrect Answer

    Solution

    Section 31.Shelf prospectus- (1) Any class or classes of companies, as the  Securities and Exchange Board may provide by regulations in this behalf, may file a shelf prospectus with the  Registrar  at the stage of the first offer of  securities  included therein which shall indicate a period not exceeding one year as the period of validity of such prospectus which shall commence from the date of opening of the first offer of securities under that prospectus, and in respect of a second or subsequent offer of such securities issued during the period of validity of that prospectus, no further  prospectus  is required

    Practice Next