Answered
The Freestanding Company Limited is the owner of a number of commercial buildings in a large Ontario city. One of the directors, Denise, suggested that the corporation purchase a large apartment building. Another director, Zaida, 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.
On Sep 22, 2024