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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
  Version 4 of 4    

42. Section 41: exceptions and exemptions.

Repealed from 1 June 2015

(1) [deleted]

(2) A person shall not be liable under section 41 solely on the basis of a summary of a prospectus, including any translation thereof, unless it is misleading, inaccurate or inconsistent when read together with other parts of the prospectus.

(3) Subject to subsection (5), a person shall not be liable under section 41 if he or she proves -

(a) that, having consented to become a director of the issuer, he or she withdrew, in writing, his or her consent before the issue of the prospectus, and that it was issued without his or her authority or consent, or

(b) that the prospectus was issued without his or her knowledge or consent, and that on becoming aware of its issue he or she forthwith gave reasonable public notice that it was issued without his or her knowledge or consent, or

(c) that after the issue of the prospectus and before the acquisition of securities thereunder by the person referred to in section 41, he or she, on becoming aware of any untrue statement there

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