Financial Markets Act (Cap. 345), article 15B

15B. (1) Notwithstanding the provisions of this Act or any other law, the issuer, the offeror, the person asking for the a dmission to listing and, or trading on an authorized regulated market, the guarantor or, when any of the foregoing is a legal entity, the members of its administrative, management or supervisory bodies, as the case m ay be, shall be jointly and severally responsible and civilly liable f or the information submitted in a prosp ectus, and any supplement there to. (2) Notwithstanding the provisions of this Act or any other law, no civil liability shall attach to any person mentioned in sub- article (1) solely on the basis of the summary pursuant to Article 7 of the Prospectus Regulation or the specific summary of an EU Growth prospectus pursuant to the second sub-paragraph of Article 15(1 ) of the Prospectus Regulation , including any translation thereof, unless: (a) it is misleading, inaccurate or inconsistent, when read together with the other parts of the prospectus; or (b) it does not provide, when read together with the other parts of the prospectus, key information in order to assist investors when considering whether to invest in the securities. (3) The persons responsible f or the prospectus, and any supplement thereto in accordance with sub-article (1), shall be clearly 34 CAP. 345.] FINANCIAL MARKETS identified in the prospectus by their names and functions or, i n the case of legal entities, their names a nd registered offices, as well as declarations by them that, to th e best of their knowledge, the information contained in the pro spectus is factually correct an d that the prospectus makes no omissi on likely to affect its import. (4) The person mentioned in sub-article (1) shall be responsible for the information submitted in a registration document or in a universal registration document only in those cases where the registration document or the universal registration document is in use as a constituent part of an approved prospectus: Provided that the provisions of this sub-article shall apply without prejudice to Articles 4 and 5 of the Transparency Directive where the information under those Articles is included in a uni versal registration document. Notification of decision. Substituted by: XVII. 2002.114. Amended by: XX. 2007.30; XX. 2013.30. Substituted by: XLVI.2021.22.