Sec. 2. Definitions.- In this Act, unless the context otherwise requires

(22) "issued generally" means, in relation to a prospectus, issued to persons irrespective of their being existing members or debenture-holders of the body corporate to which the prospectus relates; 


To understand the concept read as mentioned below - not given in Act but to understand I have put up - in the below form - 

(22) "issued generally" means, 
in relation to a prospectus, 
issued to persons 
irrespective of their 
being existing members or debenture-holders 
of the body corporate 
to which the prospectus relates;