531. Liability for false statement in directors' statement

(1) This section applies in relation to a directors' statement under section 530 (special resolution disapplying pre-emption rights) that is sent, submitted or circulated under subsection (7) of that section.
(2) A person who knowingly or recklessly authorises or permits the inclusion of any matter that is misleading, false or deceptive in a material particular in such a statement commits a contravention of these Regulations.
(3) A person who commits a contravention of this section is liable to a fine of up to level 7.