​The Board of the Authority may reject a prospectus in any of the following cases:

a. If the prospectus does not contain the information required by Article 42 of this Law.

b. If the prospectus contains incorrect information pertaining to material matters, false or misleading statements or omits to state material information or statements that would under the circumstances render the prospectus misleading or incorrect.

c. The prospectus issuance fees have not been paid in full to the Authority.

d. The issuer has failed to provide any of the reports stipulated in Article 45 of this Law.