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<h1>False statement liability: knowingly false or materially omitted corporate disclosures attract penal liability under the Act.</h1> Any person who, in a return, report, certificate, financial statement, prospectus, statement or other document required by the Act or rules, makes a statement that is false in any material particulars knowing it to be false, or who omits any material fact knowing it to be material, shall be liable under the Act's general penal provision.