following persons shall be the applicant for the offering for sale of securities under Section 33: (1) The would-be settlor or the settlor only in case of an initial public offering of newly issued securities

under this Act. SECTION 25. The initial capital of the SEC Office shall comprise the money transferred in accordance with the provisions of Section 319 and Section 320. SECTION 26. The SEC Office shall

relating to any violation and penalty imposed on the violators, including any other information obtained in the performance of duties under this Act. SECTION 25. The initial capital of the SEC Office shall