- Any document, described or issued by a company includes any notice or circular, authentic advertisement inviting deposits from the public.
- Document inviting offers to the public for the subscription or purchasing of shares, debenture or securities.
- Elements of prospectus;
- A valid invitation to the public.
- The invitation must be to subscribe or purchase shares or debenture of company.
- The invitation must be made by or on behalf of the company.
- Only the commercial advertisement is not prospectus.
- Section 2 ( m) and 23 & 24 of Nepalese Company Act to know the concept, features and importance of prospectus.
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