Special Investigating Units and Special Tribunals Act, 1996
R 385
Companies Act, 1973 (Act No. 61 of 1973)Chapter XI: Accounting and DisclosureAccounting Records287A. False or misleading reports |
| 1) | If any financial report of a company is false or misleading in a material respect, any person who is a party to the preparation, approval, publication, issue or supply of that report and who knows or ought reasonably to suspect that it is false or misleading is guilty of an offence unless subsection (3) applies. |
| 2) | For the purposes of subsection (1), a person shall be regarded as a party to the preparation of a financial report which is false or misleading if- |
| a) | the report includes or is otherwise based on a scheme, structure or form of words devised, prepared or recommended by that person; and |
| b) | the scheme, structure or form of words is of such a nature that that person knew or ought reasonably to have suspected that its inclusion or other use in connection with the preparation of the report would cause the report to be false or misleading. |
| 3) | If any person is found guilty of an offence under section 287 in respect of a failure to comply with, or an omission from, financial statements. such person shall not also be guilty of an offence under this section in respect of the same failure or omission. |
