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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 4 : Public Offerings of Company Securities

111. 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.