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The Companies Act, 2013

Chapter III - Prospectus and Allotment of Securities (23-42)

Section 33- Issue of application forms for securities.

[Notification/ Effective Date: 12.09.2013 except sub-section (3)]

Section 33- Issue of application forms for securities. [Corresponds to Section 56 of the Companies Act,1956]

(1) No form of application for the purchase of any of the securities of a company shall be issued unless such form is accompanied by an abridged prospectus:

Provided that nothing in this sub-section shall apply if it is shown that the form of application was issued—

(a) in connection with a bona fide  invitation to a person to enter into an underwriting agreement with respect to such securities, or

(b) in relation to securities which were not offered to the public.

(2) A copy of the prospectus shall, on a request being made by any person before the closing of the subscription list and the offer, be furnished to him.

(3) If a company makes any default in complying with the provisions of this section, it shall be liable to a penalty of fifty thousand rupees for each default. [sub-section (3) Effective from: 01.04.2014]