(1)Subject to the provisions of this section, where a prospectus invites persons to subscribe for shares in or debentures of a company, the following persons shall be liable to pay compensation to every person who subscribes for any shares or debentures on the faith of the prospectus for any loss or damage he may have sustained by reason of any untrue statement included therein, that is to say,-(a)every person who is a Director of the company at the time of the issue of the prospectus;(b)every person who has authorised himself to be named and is named in the prospectus either as a Director, or as having agreed to become a Director, either immediately or after an interval of time;(c)every person who is a promoter of the company; and(d)every person who has authorised the issue of the prospectus:Provided that where, under section 58, the consent of a person is required to the issue of a prospectus and he has given that consent, or where under [* * *] sub-section (3) of section 60, the consent of a person named in a prospectus is required and he has given that consent, he shall not, by reason of having given such consent, be liable under this sub-section as a person who has authorised the issue of the prospectus except in respect of an untrue statement, if any purporting to be made by him as an expert.
