Geschichte der volkswirtschaftlichen Lehrmeinungen

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Monograph

Identifikator:: 1010911953

URN:: urn:nbn:de:zbw-retromon-20641

Document type:: Monograph

Author:: Gide, Charles http://d-nb.info/gnd/117543985; Rist, Charles http://d-nb.info/gnd/172332966

Title:: Geschichte der volkswirtschaftlichen Lehrmeinungen

Edition:: Nach der zweiten durchgesehenen und verbesserten Ausgabe, herausgegeben von Franz Oppenheimer

Place of publication:: Jena

Publisher:: Verlag von Gustav Fischer

Year of publication:: 1913

Scope:: 1 Online-Ressource (XXII, 828 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Zweites Buch. Die Gegner

Collection:: Economics Books

CHAPTER VI PROSPECTUS AND ALLOTMENT BEFORE a newly incorporated company (other than a private company, as to which see Chapter XXII) can commence business or exercise its borrowing powers, certain formalities must be complied with. For this purpose, companies may be divided into two classes: companies which issue a prospectus on or with reference to their formation, and companies which 0 not. Commence- A company which issues a prospectus on or with reference ment of to its formation, or, in other words, a company of which the Business ic first active step is to make a public issue of shares, must Legon. comply with the relevant requirements of ss. 34, 35, 39 and 04 of the Act before commencing business. These reauire- ments are as follows: — I. A prospectus must be prepared, containing the par- ticulars required by law. A prospectus is defined by s. 380 as ‘any prospectus, notice, circular, advertisement, or other invitation, offering to the public for subscription or purchase any shares or debentures of a company.” The word is accordingly not limited to the formal document known as a prospectus, but includes any document, however informal, which offers to the public shares or debentures of the company. In this connection it must be remembered that under s. 380 ‘debenture’ includes debenture stock, bonds and any other securities of a company whether constituting a charge on the assets of the company or not. Whether or not a par- ticular document amounts to an invitation to the public to subscribe is often a difficult question of fact. S. 35 (5), however, provides that a circular or notice to existing members or debenture holders, inviting them to subscribe, is not an offer to the public, even though the members or debenture holders may have the right to renounce in favour of other persons. An offer of shares to the public for subscription must be distinguished from an offer for purchase within s. 356 as under subsection 7 of that section a person shall not in relation to a company be regarded as not being a member of the public by reason only that he is a holder of shares in the company. Prospectus.

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