The Bigco Company Limited is the owner of a number of commercial buildings in a large Ontario city.One of the directors,Michael,suggested that the corporation purchase a large apartment building.Another director,Christine,was the owner of a one-third interest in the building.
-If the corporation must sell securities to the public to raise the capital,a prospectus must be prepared and approved by the Ontario Securities Commission before a sale of securities may be made.

Question

Quizplus · Accepted Answer

This is true according to securities laws in Ontario. A prospectus must be prepared and approved by the Ontario Securities Commission before selling securities to the public.

The Bigco Company Limited Is the Owner of a Number