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Define a prospectus and state its main clauses .

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Prospectus may be defined as an invitation to the public to subscribe to a company’s shares or debentures.
The following are the contents of Prospectus;
1. Name and Registered office of the company
2. The main objects of the company
3. Remuneration of the Directors
4. Names, addresses, descriptions and occupations of the Directors, Managing Directors, Secretaries, Treasurers and Managers
5. Particulars of the property of the company
6. Amount of preliminary expenses
7. Amount of expenses of the issue
8. Details of every contract with the company
9. Time and Place where contracts may be inspected
10. Name and address of the auditors and bankers of the company
11. Particulars of reserves and reserves capitalized
12. Time of opening and closing of subscription list

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