Chapter III of the Companies Act 2013 focuses on the prospectus and allocation of securities. Which statement correctly describes a requirement for companies issuing securities under this chapter?
1
A prospectus is not required for private placements of securities.
2
All securities must be listed on at least two stock exchanges in India.
3
A company must issue a prospectus for each type of security it issues.
4
Every prospectus issued must include the financial projections of the company.
5
A prospectus must be filed with the SEBI prior to any security allocation.