Question
Which of the following is true relating to Shelf
Prospectus?Solution
Companies Act Section 31. Shelf prospectus: (1) Any class or classes of companies, as theĀ Securities and Exchange Board may provide by regulations in this behalf, may file a shelf prospectus with theĀ RegistrarĀ at the stage of the first offer ofĀ securitiesĀ 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 furtherĀ prospectusĀ is required. (2) A company filing a shelf prospectus shall be required to file an information memorandum containing all material facts relating to new charges created, changes in the financial position of the company as have occurred between the first offer of securities or the previous offer of securities and the succeeding offer of securities and such other changes as may be prescribed, with the Registrar within the prescribed time, prior to the issue of a second or subsequent offer of securities under the shelf prospectus.
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At-least some J are K.
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