Section 315 - Voting rights of shares offered to the public

(1) An invitation shall not be made to the public to acquire shares in a public company unless the voting rights attached to the shares of the company are stated as required by sections 52 and 53.

(2) Where a person makes an invitation to the public in breach of subsection (1), that person is liable to pay to the Registrar, an administrative penalty of one thousand penalty units and if the invitation is made by or on behalf of the company, the company and each officer of the company who is in default, is liable to a like penalty.