R v Rada Corporation Ltd (No 2) - [1990] 3 NZLR 453

Criminal law — Offences — Misstatement in company prospectus — Registered prospectus of public company stated that subsidiary was to subscribe for shares valued at $50 million but omitted to state that subsidiary did not hold cash of $50 million and had not made firm arrangements to obtain that cash — Directors were charged with signing an untrue prospectus — Whether the fact that subsidiary had means of obtaining the cash meant that omission from prospectus made statement in prospectus untrue — Whether omission from prospectus was material — Whether Crown had proved charges — Securities Act 1978, ss 55 and 58.