Section 76: Registration of prospectuses

76. Registration of prospectuses (1) The Commission shall, on filing of a prospectus, issue an acknowledgement of filing on such terms and conditions as it may deem appropriate. (2) The prospectus shall be accompanied by a true certified copy of the statement referred to in section 71 (2) (b). (3) No person shall publish, or cause to be published, a securities advertisement for which a prospectus is required unless— (a) a prospectus in respect of the offer has been issued with an acknowledgement of filing; (b) the advertisement states that applications for subscription may only be made after the prospectus has been issued with an acknowledgement of filing and on an application form attached to the prospectus; (c) the prospectus is available for public inspection; and (d) the advertisement gives the address of the place where the prospectus can be inspected or requested. (4) The Commission may, after a review based on disclosure requirements and not on the merits of the offer, grant a registration where— (a) the person making the offer has made any required amendment to the prospectus; (b) the Commission is satisfied that the prospectus meets all disclosure requirements of the Act, any regulations made under this Act or the FSC Rules; (c) consents mentioned in section 72 have been received; and (d) a prospectus in its final form as determined by the FSC Rules has been filed with the Commission. [Issue 1] S7 – 26 Revised Laws of Mauritius (5) Pending registration of the prospectus— (a) a copy of the prospectus may be transmitted free of charge to any prospective subscriber who requests it by the issuer or the investment dealer responsible for the offer; (b) no application form for subscription shall accompany the prospectus; (c) no offer for subscription shall be entertained by the issuer or any investment dealer; (d) no indication of interest, other than an indication of interest without a firm commitment, shall be accepted from potential subscribers; and (e) no indication of interest shall be accepted by a person other than a licensed investment dealer. (6) No action shall lie against the Commission or any member of the Commission for any damage or loss suffered as a result of any prospectus being acknowledged or registered by the Commission. [S. 76 amended by s. 24 of Act 15 of 2007 w.e.f. 28 September 2007.]