Law library · Sierra Leone · The Companies Act, 2009
Section 498, The Companies Act, 2009
In forceThe Companies Act, 2009, Sierra Leone
(1) It shall not be lawful to issue any form of applicationfor securities in a public company unless the form is issued with a
prospectus which complies with the requirements of section 497;
but this section shall not apply if it is shown that the form of
application was issued either-
(a) in connection with a bona fide invitation to a
person to enter an underwriting agreement
with respect to the shares; or
(b) in relation to shares which were not offered
to the public.
(2) If any person contravenes any provision of this
section, he shall be guilty of an offence and be liable to a fine not
exceeding Le5,000,000
358 359
“invitation to
the public” .
Document
offering for
sale deemed
to be
Form of
application
for shares to
be issued with
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