COMPANIES ACT - 1963 (ACT 179)

    Section - 287 - Recission for Mis-statements in a Prospectus

    (1) If any person acquires any shares or debentures of a public company from that company or disposes of any shares or debentures of a public company to that company as a result of an untrue statement of a material fact made, whether innocently or fraudulently, in a prospectus published in connection with any invitation to the public made by or on behalf of that company, such person shall, subject to subsection (2) of this section, be entitled to rescind the acquisition or disposition of the shares or debentures.

    (2) Such person shall not be entitled to rescission unless he claims to rescind with reasonable promptitude after discovering that the untrue statement was made and, in any case prior to the commencement of the winding up of the company.