1989 Ed.]
Securities
[CAP. 333
51
(c) any offer made to-
(i) a person whose business involves the acquisition or disposal or holding of securities; or
(ii) a solicitor or professional accountant; or
(iii) any other person who belongs to a class of persons prescribed in regulations for the purposes of this paragraph;
or (Amended 62 of 1976 s. 20)
(d) any offer made by a stockbroker in the ordinary course of trading on the Unified Exchange. (Amended 58 of 1985 s. 53)
(6) Where a dealer communicates an invitation which invites a person to acquire or dispose of any security held by that person in a corporation, then for the purposes of this section--
(a) that invitation is deemed to be an offer, and
(b) an offer to acquire or dispose of that security made by that person in response to the invitation is deemed to be an acceptance by that person of an offer to acquire or, as the case may be, an offer to dispose of the security,
and references in this section to "acceptance" shall be construed accordingly.
(7) An offer to acquire or dispose of a right to acquire or dispose of a security or an interest in a security is deemed to be an offer to acquire or dispose of a security; and a reference to a person who holds securities includes a reference to a person who holds a right to acquire a security or an interest in a security.
(8) For the purposes of this section “expert” includes an engineer, valuer, professional accountant, and solicitor, and any other person whose profession gives authority to a statement made by him.
(9) For the purposes of this section an offer to acquire or dispose of securities in consideration or part consideration for other securities is deemed to be both an offer to acquire and an offer to dispose of securities.
73. Calls by registered dealers
(1) Subject to subsection (3), a dealer shall not during, or as a consequence of, a call on any person, whether at his place of residence or his place of employment or otherwise, enter into any contract for the sale of securities unless he-
(a) calls on the person at the invitation of that person; and
(b) before entering into the contract provides the person with a written statement containing all the information which he would have been required to give to that person if the contract had been entered into as a result of an offer made under section 72.
(2) Any dealer who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 2 years.