Section 71: Form of application for shares to be issued with prospectus.

(1) Subject to the provisions of section 76 of this Act, no person shall issue any form of application to deposit money for the purpose of subscribing to, purchasing or in any way acquiring the securities of a public company unless the form is issued with a prospectus which complies with the requirements of section 79 of this Act.
(2) Where the form of application to deposit money referred to in subsection (1) of this section is issued in respect of debenture securities, the form shall in addition be accompanied with a trust deed.
(3) This section shall not apply if it is shown that the form of application was issued either:
(a) in connection with a bona fide invitation to a person to enter into an underwriting agreement with respect to the shares; or
(b) in relation to shares which were not offered to the public.
(4) A person who contravenes the provisions of this section, commits an offence and is liable on conviction to a fine of not less than N100,000.