CAF-4 · Chapter 20 · Question 12 of 15
If a public company decides not to issue shares to the general public initially, what document must it file with the registrar before commencing business?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) A Statement in lieu of prospectus
Explanation
If a public company does not issue a prospectus offering shares to the public, it must file a 'Statement in lieu of prospectus' with the registrar before it can obtain a certificate of commencement of business.
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