Regulations for Offers of Securities (prospectus requirements)

How long is a prospectus valid for?


A prospectus/profile statement is valid for a period of 6 months or 2 years depending on certain conditions. 

According to the SFA

250.—(1) No person shall make an offer of securities or securities-based derivatives contracts, or allot, issue or sell any securities or securities-based derivatives contracts, on the basis of a prospectus or profile statement after the expiration of the period referred to in subsection (3).

(3) The period under subsection (1) or (2) is —

(a) in a case where the securities or securities-based derivatives contracts are debentures or units of debentures issued under a debenture issuance programme under section 240A, 24 months from the date of registration by the Authority of the base prospectus in relation to such offer, allotment, issue or sale; or

(b) in any other case, 6 months from the date of registration by the Authority of the prospectus in relation to such offer, allotment, issue or sale.


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