222. A person who has disposed of securities in response to a take-over bid or issuer bid effected with a circular containing a misrepresentation may apply to have the disposal rescinded or the price revised, whether the circular is prepared in application of this Act or in accordance with the exemption in virtue of section 119.
The defendant may defeat the application only if it is proved that, at the time of the disposal, the plaintiff knew of the alleged misrepresentation.
1982, c. 48, s. 222; 1984, c. 41, s. 53; 2007, c. 15, s. 7.