(1A)[ Substituted by Act 41 of 1974, Section 8, for sub-Section (1) (w.e.f. 1.2.1975).] Where a prospectus, whether issued generally or not, states that an [application under sub-section (1) has been] [Substituted by Act 31 of 1988, Section 10, for " application has been or will be," (w.e.f. 15.6.1988). ] made for permission for the shares or debentures offered thereby to be dealt in one or more recognised stock exchanges, such prospectus shall state the name of the stock exchange or, as the case may be, each such stock exchange, and any allotment made on an application in pursuance of such prospectus shall, whenever made, be void, [* * *] [Certain words omitted by Act 31 of 1988, Section 10 (w.e.f. 15.6.1988). ] if the permission has not been granted by the stock exchange or each such stock exchange, as the case may be, before the expiry of ten weeks from the date of the closing of the subscription lists:Provided that where an appeal against the decision of any recognised stock exchange refusing permission for the shares or debentures to be dealt in on that stock exchange has been preferred under section 22 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), such allotment shall not be void until the dismissal of the appeal.]
