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Second: General Requirements

2.1 The prospectus must comply with the requirements of the Agency and all regulations and Guidelines issued thereunder. The prospectus must include any or all such information that investors and their professional advisers would reasonably require and reasonably expect to find in the prospectus for the purpose of making an informed assessment of the following:
(a) The assets and liabilities, financial position, profit and losses and prospects of the issuer;
(b) The rights attaching to the securities; and
(c) The merits of investing in the securities and the extent of the risk involved in doing so.
2.2 The information that investors and their professional advisers would reasonably require and reasonably expect to find in the prospectus is information that is known to an ordinary person. In this regard, consideration should be given to the following:
(a) The nature of the securities and business of the issuer;
(b) The persons likely to consider acquiring such securities;
(c) The fact that certain matters may reasonably be expected to be within the knowledge of professional advisers whom potential investors may reasonably expect to consult; and
(d) Whether the persons to whom an issue of, offer for subscription or purchase of, or invitation to subscribe for or purchase securities is to be made are the holders of securities in the corporation and, if they are, to what extent (if any) relevant information has previously been given to them by the issuer under any law, any requirement of the rules or listing requirements of a stock exchange, if applicable, or otherwise.
2.3 The Agency may require disclosure of such additional information as may be considered appropriate in any particular case.
2.4 Where a prospectus states or implies that an application has been or will be made for permission for the Debt Securities to be listed for quotation on the official list of the Bahrain Stock Exchange or other similar exchange outside the Kingdom of Bahrain, any allotment made on an application to subscribe for Debt Securities shall be void if:
(a) permission is not applied for in the form required by the Exchange before the third day on which the exchange is open after the date of issue of the prospectus; or
(b) permission is not granted before the expiration of six weeks from the date of issue of the prospectus or such longer period as may be specified by the Agency, provided that the applicant is notified by or on behalf of the Exchange within that six weeks or such longer period as may be specified by the Agency.