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What is a Statement in Lieu of Prospectus?

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When a company does not submit a prospectus to the public to invite them to buy its shares, a Statement in Lieu of Prospectus is submitted to the Registrar of Companies (ROC).

Final Answer:
A Statement in Lieu of Prospectus is a few pages statement submitted by the company to the Registrar of Companies (ROC) instead of issuing company shares to the public.

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