Section 4(5) in Punjab Apartment and Property Regulation Act, 1995
(5)When any advertisement or prospectus includes any untrue statement, every person who authorised its issue, shall be punished with imprisonment for a term which may extend [upto three years or with fine which may extend upto five lac rupees] [Substituted 'upto one year or with fine which may extend upto five thousand rupees' by Punjab Act No. 21 of 2014, dated 27.8.2014.], or, with both, unless he proves that the statement was immaterial or that he had reason to believe and did upto the time of issue of the advertisement or prospectus believe that the statement was true.
