Investment Funds, Companies and Miscellaneous Provisions Act 2005
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Civil liability for misstatements in prospectus. |
41.—Subject to sections 42 and 43 , the following persons shall be liable to pay compensation to all persons who acquire any securities on the faith of a prospectus for the loss or damage they may have sustained by reason of— | |
(a) any untrue statement included therein, or | ||
(b) any omission of information required by EU prospectus law to be contained in the prospectus, | ||
namely— | ||
(i) the issuer who has issued the prospectus or on whose behalf the prospectus has been issued, | ||
(ii) the offeror of securities to which the prospectus relates, | ||
(iii) every person who has sought the admission of the securities to which the prospectus relates to trading on a regulated market, | ||
(iv) the guarantor of the issue of securities to which the prospectus relates, | ||
(v) every person who is a director of the issuer at the time of the issue of the prospectus, | ||
(vi) every person who has authorised himself or herself to be named and is named in the prospectus as a director of the issuer or as having agreed to become such a director either immediately or after an interval of time, | ||
(vii) every person being a promoter of the issuer, | ||
(viii) every person who has authorised the issue of the prospectus (not being the competent authority designated under Irish prospectus law). |