Which of the Following Statements About Fundraising and Disclosure by Corporations

Which of the following statements about fundraising and disclosure by corporations is not true?

A) Proprietary companies that seek an investment of up to $500 000 from one investor will not breach the Corporations Act.
B) All prospectuses must be registered and checked by the ASIC to ensure they comply with the law and do not contain misleading or deceptive statements.
C) False or misleading statements in the prospectus could make the parties who issued the prospectus liable for financial losses that result.
D) Public companies are usually required to issue a prospectus before inviting the public to subscribe for shares or debentures.