Companies Act (Cap. 386), article 96A

96A. (1) Where a public company makes an offer of securities to the public in a third country, its directors shall, within o ne month of the registration of the issued securities with the company, deliver to the Registrar for registrat ion a notice speci fying the follo wing information, together with a copy of the offering document, if any: (a) the country or countries w here the offer is made; (b) the purpose of the offer; (c) the amount of the offer; (d) the type of securities offered; (e) the name of the authority or other body in the third country which was res ponsible for the approval of the offering document, if any. (2) In default of complying with the provisions of sub-article (1), every officer of the company who is in default shall be li able to a penalty, and for every day during which the default continues, to a further penalty. (3) It shall be the responsibility of the issuer and the directo rs of the company to comply with the laws and regulations of the thir d country in which the securitie s are offered to the public. (4) For the purpose of this article: (a) "an offer of securities to the public in a third country" shall mean an offer of secur ities in such third country: (i) to more than one hundred and fifty persons; or (ii) where the total consideration of the offer exceeds one hundred thousand euro (€100,000), calculated over a period of twelve months; (b) "offering document" includes a prospectus or other invitation to acquire securities. Chapter IV -Allotmen t of shares and debentures of companies No allotment unless minimum subscription received.