Part 6 — Management and Administration Division 1 Membership
111 Prospectus when offering shares
any shares or debentures of the company with a view to all or any
of the shares or debentures being offered for sale to the public, and
the whole consideration for those shares or debentures is not paid
to the company at the date of the allotment or the offer for sale,
whichever date is earlier.
(2), (3) Repealed 2020 c25 s2(54).
(4) When a person making an offer for sale to which this section
relates is a company or firm, it is sufficient for the purposes of this
section if a prospectus is signed on behalf of the company or firm
by an officer of the company or a partner of the firm authorized in
either case to sign the prospectus.
(5) A copy of the prospectus shall be furnished to every member of
the public to whom the offer of any shares or debentures to which
the prospectus relates is made at the time the offer is made.
(6) When a sub-underwriter offers all or any of the shares or
debentures of a company to the public by a prospectus prepared or
issued by a principal underwriter, the principal underwriter is
primarily liable in respect of misstatements contained in the
prospectus to any person accepting the offer made by the
prospectus.
(7) A person who fails to comply with or who contravenes any of
the requirements of this section is guilty of an offence.
(8) In this section,
(a) "principal underwriter" means a person
(i) to whom a company makes an allotment or agrees to
make an allotment of shares or debentures of the
company with a view to all or any of the shares or
debentures being offered for sale to the public, and
(ii) who sells or agrees to se ll to any other person those
shares or debentures with a view to all or any part of
those shares or debentures being offered for sale to the
public by that other person;
(b) "sub-underwriter" means a person who purchases from a
principal underwriter the shares or debentures of a company
with a view to their sale to the public.
RSA 2000 cC-21 s111;2020 c25 s2(54)
RSA 2000
Registration of Mortgages, Charges, etc.
112 to 117 Repealed 1981 cB-15 s284(5).