Sec. 80.5. Offerings to a related group

In lieu of the prospectus called for by the New York Intrastate Financing Act, an issuer proposing an offering to a related group, as defined in these regulations, may submit to the Department of Law a prospectus on form INTRASTATE-5 (Short Form Prospectus) which prospectus may be accepted for filing by the Department of Law, if, on its face, the offering is fair, just and equitable. Said related group prospectus shall consist of form INTRASTATE-5 reproduced by photocopy or otherwise plus any additional supplemental information called for by the Department of Law.