Section 28
Requirement to register and lodge prospectus or product disclosure statement
A prospectus or product disclosure statement shall not be issued, circulated or distributed by any person unless—
(a)
the prospectus or product disclosure statement has first been registered by the Registrar; and
(b)
the prospectus or product disclosure statement has complied with the provisions of this Act.
(2)
A prospectus or product disclosure statement registered with the Registrar under this Act shall be lodged with the Registrar before the date of issue.
(3)
A person shall not issue, circulate or distribute any form of application for subscription of interest of a scheme unless—
36 Laws of Malaysia ACT 778
(a)
he is authorized in writing by the Registrar; and
(b)
the form is accompanied with a copy of a prospectus or product disclosure statement which has been registered by the Registrar.
(4)
A person who contravenes this section commits 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.