OFFERS FOR SALE AND KINDRED MATTERS 61
s. 38 or of s. 354 (3) if the company is a company within the
meaning of the Act or a foreign company.

Penalties are imposed for any contravention of s. 356, and
where a person is convicted in England of having made an
offer in contravention of the section, the Court before which he
is convicted may order that any contract made as a result of
the offer shall be void and give such consequential directions
as to repayment of the money or re-transfer of the shares as it
thinks fit [s. 356 (8)].

If a company is convicted of an offence under the section
every director and officer concerned in the management of the
company will be guilty of the like offence unless he proves that
the act constituting the offence took place without his know-
ledge or consent [s. 356 (6)].