Clause 59

by deleting the words “is not liable under section 253(1) or 254(1)” in subsection (1) and substituting the words “referred to in section 253(4)(a), (b) or (c) is not liable under section 253(1), and a person referred to in section 254(3) is not liable under section 254(1),”;

by deleting the words “or matter” in subsection (1);

by deleting the words “is not liable under section 253(1) or 254(1)” in subsection (2) and substituting the words “referred to in section 253(4)(a), (b) or (c) is not liable under section 253(1), and a person referred to in section 254(3) is not liable under section 254(1),”;

by deleting paragraph (a) of subsection (3) and substituting the following paragraph:“(a)if the person is an entity, someone other than —

a director or an equivalent person; or

an employee or agent,of the entity; or”;

by deleting subsection (4) and substituting the following subsection:“(4) For the purposes of subsection (3), a person is not the agent of an entity or individual merely because he performs a particular professional or advisory function for the entity or individual.”;

by deleting paragraph (a) of subsection (5) and substituting the following paragraph:“(a)a proposed director or an equivalent person of the issuer, or an issue manager or underwriter;”; and

by inserting, immediately after subsection (6), the following subsection:“(7) For the purposes of this section, any reference to a statement shall include a reference to any information presented, regardless of whether such information is in text or otherwise.”.