| (a) | - | every circular containing such offer and recommendation to the members of the transferor company by its directors to accept such offer shall be accompanied by such information and in such manner as may be prescribed; |
| (b) | - | every such offer shall contain a statement by or on behalf of the transferee company, disclosing the steps it has taken to ensure that necessary cash will be available; and |
| (c) | - | every such circular shall be presented to the Registrar for registration and no such circular shall be issued until it is so registered: |