Section 160. Consent from person to issue prospectus containing his statement

(1) A prospectus which includes a statement purporting to be made by an expert, or to be based on a statement made by such person shall not be issued unless—

(a) the person has given his written consent to the issue of the prospectus with the statement made in the form and context in which the consent is included and has not withdrawn such consent before the date of issue of the prospectus; and

(b) there appears in the prospectus a statement that the person has given and has not withdrawn his consent.

(2) Subsection (1) shall not apply to a statement which is an extract of an official statement or any other statement as may be specified by the Registrar.

(3) If any prospectus is issued in contravention of this section, the corporation and every person who is knowingly a party to the issue commit an offence and shall, on conviction, be liable to imprisonment for a term not exceeding five years or to a fine not exceeding one million ringgit or to both.