Dating prospectus

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A prospectus issued by or on behalf of a company or in relation to an intended company shall be dated, and that date shall, unless the contrary is proved, be taken as the date of publication of the prospectus.Dating of prospectus and particulars to be contained therein : Section – 603.

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(3) No person shall issue to any person in India a form of application for securities of such a company or intended company as is mentioned in sub-section (1), unless the form is issued with a prospectus which complies with the provisions of this Chapter and such issue does not contravene the provisions of : Provided that this sub-section shall not apply if it is shown that the form of application was issued in connection with a bona fide invitation to a person to enter into an underwriting agreement with respect to securities.(5) This section— ( ) shall not apply to the issue to existing members or debenture holders of a company of a prospectus or form of application relating to shares in or debentures of the company, whether an applicant for shares or debentures will or will not have the right to renounce in favour of other persons; and ( ) except in so far as it requires a prospectus to be dated, shall not apply to the issue of a prospectus relating to shares or debentures which are or are to be in all respects uniform with shares or debentures previously issued and for the time being dealt in or quoted on a recognised stock exchange; but, subject as aforesaid, this section shall apply to a prospectus or form of application whether issued on or with reference to the formation of a company or subsequently.(6) Nothing in this section shall limit or diminish any liability which any person may incur under the general law or under this Act apart from this section.Not only is a prospectus a legal document required to meet set federal guidelines, but the issuer also uses a prospectus to market a security or mutual fund.A publication released by the Missouri secretary of state in 2005 calls the prospectus the "primary sales tool" of the issuer.

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