Malaysia legislation
Section 20
of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010
Section 20
(2)
A person shall not be liable under subsection (1) if he proves that the statement or non-disclosure was immaterial or that he had reasonable ground for believing and did, up to the time of the issue of the prospectus, believe that the statement was true or that the non-disclosure was immaterial.
(3)
A person shall not be deemed to have authorized or caused the issue of a prospectus by reason only of his having given the consent required by this Part to the inclusion therein of a statement purporting to be made by him as an expert.
Labuan trust company, bank licensee or Islamic bank licensee as agent in offer