Companies Act, 1973 (Act No. 61 of 1973)Chapter VI: Offering of Shares and ProspectusOffers to the public146A. Rights offers |
| 1) | A company desiring to issue a letter of allocation shall lodge with the Registrar for registration a copy thereof together with the prescribed fee and a copy of every document referred to in section 145A and every such copy shall be certified, by not less than two directors of the company, as a true copy of the original approved by the stock exchange concerned. |
| 2) | Every copy mentioned in subsection (1) shall be accompanied by a copy of any contract referred to therein and, if such contract is not in an official language, by a translation thereof into one of the official languages. |
| 3) | As soon as the Registrar has registered the documents referred to in subsection (1), he shall give notice of the registration to the company concerned or the person who lodged them with him on behalf of the company. |
| 4) | Every letter of allocation which is issued shall- |
| a) | state on the face of it that a copy thereof together with copies of all other documents referred to in subsections (1) and (2) have been registered as required by this section; and |
| b) | be accompanied by a copy of every document lodged therewith in terms of subsection (1): Provided that the provisions of this paragraph shall not apply to any letter of allocation issued in connection with a renunciation of part of the rights to subscribe in terms of the rights offer. |
| 5) | The provisions of sections 151 , 153(1) and (4) , 154(1), (4) and (5) , 158 , 160 , 161 , 162 and 163 shall apply mutatis mutandis to a rights offer and all documents issued in connection therewith. |
| 6) | Any person who contravenes any provision of this section, and if such person is a company, any director and officer of such company who knowingly is a party to such contravention, shall be guilty of an offence. |