alleryStart learning →Section 26(1) disclosures do not apply to a prospectus issued to:
ACurrent members or debenture-holders
BForeign institutional investors
CEmployees of competing companies
DMembers of the investing public
Answer & Solution
Correct answer: A. Current members or debenture-holders
Section 26(2)(a) exempts an issue of prospectus or application form to existing members or debenture-holders.
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