116. Public offering registration requirement

( 1)

No person shall make an offer to sell or sell securities in Brunei

Darussalam through a public offering unless a dated registration statement and form of prospectus for the public offering

{a}

are filed with the Authority;

{b}

declared effective by the Authority pursuant to ~ection 122; and

{c}

comply with the requirements of this Order.

Only an issuer may make a public offering of its securities.

When considering a registration statement and form of prospectus for a public offering, the Authority will notify the applicant in writing within 40 days of the receipt of the application filed with the required documents under section 118 and by virtue of section 122 will become effective after the expiration of the 40 day period.