Section 94: Action for rescission.

A shareholder may bring an action against a company which has allotted shares under a prospectus for the rescission of all allotments and the repayment to the holders of the shares of the whole or part of the issued price which has been paid in respect of them if the prospectus:(a) contained a material statement, promise or forecast which was false, deceptive or misleading; or
(b) did not contain a statement, report or account required to be contained in it by section 75 and the Third Schedule to this Act.