The Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations

4. Meaning of "offer of securities"

Edition: 2022-12-31 · In force

4. Meaning of "offer of securities"

A person is to be regarded as offering securities if, as principal—

(a)he makes an offer which, if accepted, would give rise to a contract for the issue or sale of the securities by him or by another person with whom he has made arrangements for the issue or sale of the securities; or

(b)he invites a person to make such an offer,

but not otherwise and, except where the context otherwise requires, "offer" and "offeror" shall be construed accordingly.

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Source: Kenya Law