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Application of certain provisions of Companies Act extended.
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3.—(1) The provisions of the Companies Acts, 1963 to 1982, which regulate or otherwise relate to—
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(a) the contents and issue of a prospectus of a company,
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(b) the allotment of share capital of a company,
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(c) commissions, discounts and other allowances given or allowed by a company,
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(d) financial assistance for the purchase of shares in a company,
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(e) the issue of shares in a company at a discount,
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(f) redeemable preference shares in a company,
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(g) share capital of a company,
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shall, with the necessary modifications, apply as regards the contents and issue of a prospectus of an undertaker, the allotment of share capital of an undertaker, commissions, discounts and other allowances given or allowed by an undertaker, financial assistance for the purchase of shares in an undertaker, the issue of shares of an undertaker, the redeemable preference shares in an undertaker and the share capital of an undertaker, respectively.
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(2) Without prejudice to the generality of subsection (1) of this section—
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(a) section 47 of the Companies Act (which requires registration of a prospectus), as applied by the said subsection (1), shall be construed and have effect as if each of the references therein to the registrar were a reference to the secretary of the undertaker concerned, and
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(b) subsection (4) of the said section 47 shall apply as regards the issue of a prospectus of an undertaker as it applies as regards the issue of a prospectus of a company and for the purposes of this paragraph the reference in the said subsection (4) to the company shall be construed as a reference to the undertaker.
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(3) Each of the references in section 385 of the Companies Act to offences under that Act shall be construed as including a reference to offences under that Act as applied by this Act.
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