Acts Online
GT Shield

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

Companies Regulations, 2011

Chapter 4 : Offerings of Company Securities

Part C : Items required to be included in a Prospectus

65. Loans

 

 

(1) In this regulation, "loan" includes a debenture.

 

(2) Section 1, Paragraph 9 of a prospectus contemplated in regulation 56 must set out—
(a) the details of material loans to the company, or to any subsidiary of the company, at the date of the prospectus, stating with respect to each such loan—
(i) whether it is secured or unsecured, and if secured, the details of the security;
(ii) the names of the lenders, if not debenture-holders;
(iii) the amount, terms and conditions of repayment; and
(iv) the interest rate; and
(b) details of any material loan advanced other than in the ordinary course of business, by the company, or by any subsidiary of the company, and outstanding at the date of the prospectus, stating with respect to each such loan—
(i) the date it was advanced, and the period for which it was advanced;
(ii) the person to whom it was advanced;
(iii) the interest rate;
(iv) if the interest is in arrears, the last date on which it was paid and the extent of the arrears;
(v) details of any security held, including the value of that security and the method of valuation;
(vi) if the loan is unsecured, the reasons therefore; and
(vii) if the loan was advanced to another company, the names and addresses of the directors of that company.