Der Weltverkehr und seine Mittel

Bibliographic data

Monograph

Identifikator:: 834298023

URN:: urn:nbn:de:zbw-retromon-87504

Document type:: Monograph

Title:: Die Zucker-Industrie auf Cuba

Place of publication:: Berlin

Publisher:: Kayssler

Year of publication:: 1887

Scope:: 1 Online-Ressource (115 S)

Collection:: Economics Books

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OFFERS FOR SALE AND KINDRED MATTERS 59 the allotment or agreement to allot, or that at the date when the offer is made the whole consideration to be received by the company for the shares or debentures has not been so received, is primd facie evidence that the allotment or agreement to allot was made with a view to an offer for sale to the public. Of course if the allot- ment was in fact made with a view to the shares or debentures being offered to the public the section will apply to the offer, even though it is made more than six months after allotment and after the whole consideration has been received by the company. Under s. 38 (3) the copy of the offer for sale which is delivered to the Registrar for filing pursuant to s. 34, must be signed by the persons making the offer. S. 38 (4) contains special provisions as to the signature of the offer for sale where the offer is made by a company or firm. Having regard to s. 34 the copy of the offer for sale to be delivered for registration must in all cases also be signed by every director or proposed director of the company. It is not quite clear whether s. 35 (3), which prohibits the issue of application forms without a prospectus complying with s. 35 applies to application forms accompanying offers for sale, but the language of the sub-section appears wide enough to cover such forms of application. S. 38 only applies to offers for sales of shares by a company as defined by s. 380 (see supra p. 1), where the original allot- ment or agreement to allot was made with a view to an offer for sale to the public. It does not apply where the shares offered were not allotted or agreed to be allotted with a view to an offer for sale to the public. It would appear, however, that in such a case if the offer is made to the public it must be accompanied by a prospectus where the offer is issued with a form of application; for under s. 35 (3) as regards companies within the meaning of the Act it is unlawful to issue a form of application for shares unless the form is issued with a prospectus complying with s. 35. Offers to individuals are not affected by any of the sections mentioned above, but by s. 356 (1) house-to-house canvassing is entirely prohibited. This sub-section presumably only applies where the offer is made verbally. Moreover, ‘house’ in this sub-section does not include an office used for business purposes. Offers in writing are dealt with by s. 356 (2) which provides that except in certain cases ‘it shall not be lawful to make an offer in writing to any member of the public (not being a person whose ordinary business or part of whose ordinary business it is to buy or sell shares. whether as principal or

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