(1) A private company and any officer of the company who is in default shall be guilty of an offence if the company -
(a) offers to the public (whether for cash or otherwise) any shares in or debentures of the company, or
(b) allots, or agrees to allot, (whether for cash or otherwise) any shares in or debentures of the company with a view to all or any of those shares or debentures being offered for sale to the public.
(2) Subsection (1) does not apply to the following offers or allotments (wheresoever made):
(a) an offer of debentures addressed or allotment made solely to qualified investors,
(b) an offer of debentures addressed to fewer than 100 persons, other than qualified investors,
(c) an offer of debentures addressed to investors where the minimum consideration payable pursuant to the offer is at least €50,000 per investor, for each separate offer,
(d) an offer of debentures whose denomination per unit amounts to at least €50,000,
(e) an offer of debentures where the of