59. Penalty and interpretation.—(1) If any prospectus is issued in contravention of section 57 or 58, the company, and every person, who is knowingly a party to the issue, thereof, shall be punishable with fine which may extend to fifty thousand rupees.

(2) In sections 57 and 58, the expression “expert” includes an engineer, a valuer, an accountant and any other person whose profession gives authority to a statement made by him.

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