The remedies available to a subscriber include:
Compensation for any loss or damage occasioned by the untrue statements i.e. Sec 45 of the Act.
Damages for loss or liability arising. This remedy is available to the investor in the false statements were negligently or fraudulently misrepresented.
Rescission of contract: The innocent party has the right to rescind the contract if the false statements were innocently, fraudulently or negligently made. The right is exercisable at the earliest possible instance.
Damages against the company for breach of contract.
Indemnity: This remedy which entails monetary compensation is available if the false statements were innocently made. However, it is only available where the innocent misrepresentation occasion direct financial loss.