Forwarding forms of application for shares without enclosing copies of prospectuses

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..... where members of recognised Stock Exchanges, while issuing circular letters to their clients in respect of new issues, have forwarded forms of application without enclosing therewith copies of prospectuses as required under section 56(3)1. The requirements of section 56(3) are mandatory and any contravention of the provisions contained therein is punishable with fine which may extend to five thou .....

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