Companies wishing to issue securities to the public are required to register with the ECSRC (please click here for procedures for registering with the ECSRC) and submit a prospectus for the approval of the ECSRC prior to securities being offered. Part VII of the Securities Act provides instruction on offers of corporate securities, including the publication of a prospectus, content of the prospectus, the continuing disclosure obligations of issuers as well as the liability for compensation for a false or misleading prospectus.
Prospective issuers are urged to review:
- Section 3: Exemptions of the Securities (Prospectus) Regulations; and
- ECSRC Guidance Note #4 - [Public Offering of Securities: Guidance On The Exemption From Prospectus Requirements]
as these address the conditions under which a prospectus is not required for the public offer of securities.