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Jul 5 2012 onwards

14. Obligation to issue a Prospectus



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(1) A person shall not, subject to Article 14(3):
(a) make an Offer of Securities to the Public in or from the DIFC; or
(b) have Securities admitted to trading on an Authorised Market Institution,
unless there is an Approved Prospectus in relation to the relevant Securities.
(2) For the purposes of Article 14(1):
(a) a Prospectus is an Approved Prospectus if it is approved by the DFSA in accordance with the requirements prescribed in the Rules; and
(b) a reference to a Prospectus in the Law or the Rules is a reference to an Approved Prospectus, unless the context requires otherwise.
(3) The requirement in Article 14(1) does not apply:
(a) to an Offer of Securities to the Public where that offer is an "Exempt Offer" as prescribed in the Rules; or
(b) to any Securities to be admitted to trading on an Authorised Market Institution if those Securities are "Exempt Securities" as prescribed in the Rules.
(4) For the purposes of this Part and the Rules made for the purposes of this Part, unless the context requires otherwise:
(a) a reference to a Prospectus Offer is a reference to both the making of an Offer of Securities to the Public and to having Securities admitted to trading on an Authorised Market Institution;
(b) a reference to an "offeror" is a reference to the person making a Prospectus Offer; and
(c) a reference to a Prospectus in respect of a person who has or seeks to have Units of a Fund admitted to trading on an Authorised Market Institution is a reference:
(i) in the case of a Domestic Fund, to a Prospectus under the Collective Investment Law 2010 and the Collective Investment Rules; and
(ii) in the case of a Foreign Fund, to a Prospectus prepared in accordance with the requirements prescribed in the Rules.
(5) A Prospectus includes a Supplementary Prospectus, except where otherwise provided in this Law or the Rules