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Permission to deal
When a company issues a prospectus it often states that permission has been obtained, or is to be sought, for the shares to be dealt with on a recognized Stock Exchange. Any allotment of shares is void if either permission has not been applied for before the opening of the subscription lists or permission is refused before three weeks after the closing of those lists. The monies must then be returned.
Reference: The Penguin Business Dictionary, 3rd edt.
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