Companies (Winding Up and Miscellaneous Provisions) Ordinance

Where a prospectus issued after the
                    commencement
#
of the Companies (Amendment) Ordinance 1972 (
78 of
                    1972
) includes any untrue statements, any person who authorized the issue
                of the prospectus shall be liable to imprisonment and a fine, unless he proves
                either that the statement was immaterial or that he had reasonable grounds to
                believe and did up to the time of the issue of the prospectus believe that the
                statement was true.
(Amended
7 of 1990 s. 2
)