Public Service Commission Act, 1997
R 385
Companies Act, 2008 (Act No. 71 of 2008)Chapter 4 : Public Offerings of Company Securities111. Conditional allotment if prospectus states securities to be listed |
| (1) | A prospectus containing a statement to the effect that application has been or will be made for permission for the securities offered thereby to be listed on an exchange must not be issued unless— |
| (a) | an application has in fact been made in accordance with the requirements of the relevant exchange on or before the date of issue of that prospectus; and |
| (b) | the prospectus names the particular exchange to which the application has been made. |
| (2) | Any allotment of securities in pursuance of a prospectus referred to in subsection (1) is subject to the condition that— |
| (a) | the application contemplated in subsection (1)(a) is granted; or |
| (b) | an appeal against a refusal of such an application is upheld. |
