Companies Act, 1973 (Act No. 61 of 1973)

Chapter VI: Offering of Shares and Prospectus

Offers to the public

143. Restrictions as to offers to the public
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1)No person shall offer any shares to the public otherwise than in accordance with the provisions of this Act.

 

2)No person shall offer to the public any shares of any company or body corporate which is not a company or external company within the meaning of this Act or which has not been exempted from the provisions of this subsection by the Registrar by notice in the Gazette.

 

3)Any person who contravenes the provisions of subsection (2), and, if such person is a company, any director or officer of such company who knowingly is a party to the contravention, shall be guilty of an offence.