Section 400 — Criminal Code: False prospectus, etc.

Every person is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years or is guilty of an offence punishable on summary conviction who makes, circulates or publishes a prospectus, a statement or an account, whether written or oral, that they know is false in a material particular, with intent to induce persons, whether ascertained or not, to become shareholders or partners in a company, to deceive or defraud the members, shareholders or creditors, whether ascertained or not, of a company, or to induce any person to entrust or advance anything to a company, or enter into any security for the benefit of a company. [Repealed, 1994, c. 44, s. 26] In this section, company means a syndicate, body corporate or company, whether existing or proposed to be created.