ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART IV - SHARES, DEBENTURES AND CHARGES
DIVISION 1 - PROSPECTUSES

 
Section 47A. Power of Minister to exempt.
 
Section 47A. Power of Minister to exempt. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) Subject to subsection (2) the Minister may, on the application in writing by any person interested and subject to the recommendation of the Registrar, by order declare that Division 1 and Division 4 of this Part shall not apply to any person making an offer of shares or debentures to the public, either unconditionally or subject to such terms and conditions as the Minister thinks fit to impose.

(2) Recommendation shall not be made by the Registrar to the Minister unless he is of the opinion that circumstances exist whereby—

    (a) the cost of providing a prospectus outweighs the resulting protection to investors; or

    (b) it would not be prejudicial to the public interest if a prospectus were dispensed with.