15. Advertisements

No advertisement offering, or calling attention to an offer or intended offer of, securities under subsection 13(1), being an offer of securities not excluded under subsection 13(5), shall be published until it has been approved by the Authority.

An application for approval of an advertisement shall be lodged with the Authority together with a copy of the advertisement verified in such manner as the Authority directs.

Any person who publishes or causes to be published an advertisement without the prior approval of the Authority commits an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit.