The Act clearly provides the manner in which securities can be issued by both public and private company. There is a specified mode by way of which a public company can issue securities. Under the act certain addition disclosures may be made by the company in the prospectus. Under the Act, a company which has varied the terms of contract referred to in prospectus or objects shall not deal in the equity of other listed company. The dissenting shareholder of a company who have not agreed to the proposal to vary the terms of contracts objects referred to in the proposal, shall be given an exit offer by promoters or controlling shareholders. Under the new Act, certain members of a company who intend to offer whole or part of their holding to public, they can do so in the manner prescribed, in consultation with the board of directors.