Section 304 - Prospectus on invitations to the public to acquire or dispose of securities

(1) Despite section 294, an invitation to the public to acquire or dispose of any shares or debentures of a public company may be made if,

(a) within six months before the making of the invitation there has been delivered to the Commission for examination and approval by the Commission in accordance with section 308, a prospectus relating to the shares or debentures complying in all respects with relevant provisions of sections 305 to 307 and that prospectus has been registered with the Registrar;

(b) except as provided in subsection (2) of this section, a person to whom the invitation is made is supplied with a true copy of the prospectus at the time when the invitation is first made to that person; and

(c) a copy of the prospectus states on its face that it has been approved by the Commission and the date of the approval indicated.

(2) Electronic media with the prior consent in writing of the Commission or a newspaper may publish an advertisement or otherwise a summary of the contents of a prospectus, duly approved in accordance with section 308, so long as the summary

(a) does not contain a form of application for any shares or debentures which has not been approved by the Commission or, in respect of shares or debentures dealt in or to be dealt in on an approved stock exchange by that stock exchange; and

(b) states with reasonable prominence where copies of the full prospectus may be obtained and the fact that it has been approved and the date of approval.