Singapore legislation
Clause 67
Clause 67
Amendment of section 254
Section 254(1) of the principal Act is amended by deleting paragraphs (b) and (c) and substituting the following paragraphs:“(b)there is an omission to state any information required to be included in the prospectus under section 243 or there is an omission to state any information required to be included in the profile statement under section 246, as the case may be; or
there is an omission to state a new circumstance that —
has arisen since the prospectus or the profile statement was lodged with the Authority; and
would have been required by section 243 to be included in the prospectus, or required to be included in the profile statement under section 246, as the case may be, if it had arisen before the prospectus or the profile statement was lodged with the Authority,the persons referred to in subsection (3) shall be liable to compensate any person who suffers loss or damage as a result of the false or misleading statement in or omission from the prospectus or the profile statement, even if such persons, unless otherwise specified, were not involved in the making of the false or misleading statement or the omission.”.