Basic Conditions of Employment Act, 1997
R 385
Companies Act, 2008 (Act No. 71 of 2008)RegulationsCompanies Regulations, 2011Chapter 4 : Offerings of Company SecuritiesPart C : Items required to be included in a Prospectus77. Report by auditor where business undertaking to be acquired |
If the proceeds, or any part of the proceeds, of the issue of the securities or any other funds are to be applied directly or indirectly in the purchase of any business undertaking, Section 3, Paragraph 4 of every prospectus must comprise a report made by an auditor named in the prospectus on—
| (a) | the profits or losses of the business undertaking in respect of each of the 3 financial years preceding the date of the prospectus; and |
| (b) | the assets and liabilities of the business undertaking at the last date to which the financial statements of the business undertaking were made out. |
