(1) A grouping shall not invite investment from the public.
(2) Where a grouping is convicted of an offence under this Regulation and the grouping is in the course of being wound up on the date of the conviction or commences to be wound up within 12 months after that date, the court may, on the application of the liquidator or any creditor of the grouping, declare that any of the following persons shall be personally liable, without any limitation of liability, for all or any of the debts or other liabilities of the grouping incurred in the period during which such person was acting in the capacity mentioned, namely:
(a) any member of the grouping who is a natural person,
(b) a director or member of the committee of management of any member of the grouping which is a body corporate,
(c) the manager of the grouping or, where the manager is a body corporate, the natural person who is the representative of the manager, within the meaning of Regulation 18 (2).