Section 78: Prospectus on invitation to the public to acquire or dispose of securities.

(1) Notwithstanding the provisions of section 67 of this Act, no person shall make an invitation to the public to acquire or dispose of any securities of a public company if:
(a) within six months prior to the making of the invitation, a prospectus relating to such securities and complying in all respects with the relevant provisions of sections 75, 76 and 79 of this Act has been delivered to the Commission and registered by it, in accordance with section 80 of this Act;
(b) every person to whom the invitation is made is supplied with a true copy of such prospectus as filed with the Commission; and
(c) every copy of the prospectus states on its face that it has been registered with the Commission at the time when the invitation is first made and the date of registration is reflected thereon.
(2) The provisions of paragraph (b) of subsection (1) of this section does not apply to an invitation made by or through a member of a securities exchange or capital trade point to a client of that member or to an invitation made by or through an exempted dealer.