Section 115 Investments and Securities Act

Section 115 of the Investments and Securities Act 2025 is about Allotment of securities. It is under Part IX (Regulation of Securities) of the Act. It provides as follows:

(1) Where a public offer of securities is made, whether listed or not, the issuer and the issuing house shall be responsible for the allotment of such securities, subject to the approval of the allotment by the Commission in accordance with the rules and regulations made under this Act.

(2) Without prejudice to the provisions of subsection (1), the validity of an allotment shall not be affected where it is undertaken under such exemptions and conditions as may be specified by the Commission.