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COMPANIES (ACQUISITION OF SHARES) ACT 1980 No. 64 of 1980 - SECT 53
53. (1) A person who contravenes or fails to comply with a provision of this
Act is guilty of an offence.
(2) Where an offence against this Act is committed by a corporation, an
officer of the corporation who is in default is guilty of an offence.
(3) The penalty for an offence arising under this section is a fine not
exceeding $2,500 or imprisonment for a period not exceeding 6 months, or both.
(4) The preceding provisions of this section do not apply in relation to
sections 44 and 49.
(5) Notwithstanding anything in section 5 of this Act, sections 379 and 380 of
the Companies Ordinance 1962 do not apply in relation to this Act.
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