📝 One-liners · 79 cards
Prospectus
1 — Ingredient / Explanation?
Ingredient: Document; Explanation: Must be in writing — oral invitations are not prospectuses.
2 — Ingredient / Explanation?
Ingredient: Invitation to the public; Explanation: Must be an offer to a section of the public (not a private circle).
3 — Ingredient / Explanation?
Ingredient: For subscription / purchase of securities; Explanation: Shares, debentures, bonds or other instruments under SCRA, 1956.
Red Herring Prospectus (RHP) — Section / Plain-language meaning?
Section: Sec. 32; Plain-language meaning: Does not contain complete particulars of the quantum or price of securities.
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