(4)Every person who by reason of his being a director or named as a director, or as having agreed to become a director, or of his having authorised the issue of the prospectus, becomes liable to make any payment under this section, may recover contribution, as in cases of contract, from any other person who. if sued separately, would have been liable to make the same payment, unless the person who has become so liable-was, and that other person was not, guilty of fraudulent misrepresentation.
