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Law No: 10/96 (An Unofficial Translation)
False information in prospectus
28. (a) Persons responsible for preparing a prospectus in which false information is intentionally included shall be guilty of an offence and each such person shall be liable to a fine not exceeding MRf 100,000/-
(b) The Board of Directors of the Company at the time the prospectus is delivered to the registrar of companies for approval shall be deemed persons responsible for preparing the prospectus.
Shares
Allotment of shares
29. If a company makes an allotment of its shares it shall within thirty days of such allotment deliver to the registrar of companies a list of names and addresses of the allotees, the number, the nature and the value of the share allotted.
Value of shares
30. (a) The share capital of the company shall be divided into shares of equal value. The share capital of the company shall be divided or when the company makes an allotment of shares, it may create shares of various classes with different rights attached, as may be prescribed by regulations made under this Act.
(b) If the share capital of a company is divided or if a company allots shares of different classes with variation of rights attached to them the company shall as may be prescribed by regulations made under the Act make provisions in its article of association for variation of the rights attached for different classes of shares and for revocation of such rights.
