s 55 Criminal liability for false statements, etc., in prospectus
(1) No person shall authorize or cause the issue of a prospectus which contains— (a) any statement or information that is false or misleading; or (b) any statement or information from which there is a material omission. (2) For the purposes of this Division, a statement shall be deemed to be in a prospectus if it is— (a) contained in a report or memorandum that appears on the face of the prospectus; or (b) contained in a report or memorandum that is issued with the prospectus with the consent or knowledge of a person who authorized or caused the issue of the prospectus. (3) A person who contravenes subsection (1) shall be guilty of an offence and shall on conviction be punished with a fine not exceeding three million ringgit or imprisonment for a term not exceeding ten years or both.