(1) If a person set forth in Article 622 (1), representative of a foreign company, or person who is commissioned to offer shares or bonds has used a share or bond subscription form, prospectus, advertisements, or any other documents relating to an offering of shares or bonds, which contained misstatements as to material facts in connection with such offering, he/she shall be punished by imprisonment with labor for not more than five years or by a fine not exceeding 15 million won. <Amended by Act No. 3724, Apr. 10, 1984; Act No. 5053, Dec. 29, 1995>
(2) The provisions of paragraph (1) shall also apply where a person who offers shares or bonds for sale has used documents related to such sale containing misstatements as to material facts pertaining to such sale. <Amended by Act No. 3724, Apr. 10, 1984>