Singapore legislation
Clause 249
Clause 249
Expert’s consent to issue of prospectus containing statement by him
(1)
A prospectus making an offer of, or inviting subscription for or purchase of, shares in or debentures of, or units of shares in or debentures of, a corporation and including a statement purporting to be made by an expert or to be based on a statement made by an expert shall not be issued unless —
the expert has given, and has not before delivery of a copy of the prospectus for registration withdrawn, his written consent to the issue thereof with the statement included in the form and context in which it is included; and
there appears in the prospectus a statement that the expert has given and has not withdrawn his consent.
(2)
If any prospectus is issued in contravention of this section, the corporation and every person who is knowingly a party to the issue thereof shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.