Question

define a prospectus and state in contents

Answer 1

Prospectus is an invitation issued to the public to offer for purchase/subscribe shares or debentures of the company. In other words, any advertisement offering shares or debentures of the company for sale to the public is a prospectus.
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Answer 2

Explanation:

Companies Act 1956, defines a Prospectus as “any document described or issued as prospectus and includes any notice, circular, advertisement inviting deposits from the public or inviting offers from the public for subscription or purchase of any shares in, or debentures of a body corporate”.

In simple words, it may be defined as an invitation to the public to subscribe to a company’s shares or debentures. The following are the contents of Prospectus;

1. Name and Registered office of the company

2. The main objects of the company

3. Remuneration of the Directors

4. Names, addresses, descriptions and occupations of the Directors, Managing Directors,

Secretaries, Treasurers and Managers

5. Particulars of the property of the company

6. Amount of preliminary expenses

7. Amount of expenses of the issue

8. Details of every contract with the company

9. Time and Place where contracts may be inspected

10. Name and address of the auditors and bankers of the company

11. Particulars of reserves and reserves capitalized

12. Time of opening and closing of subscription list