4.—(1) In this paragraph “statement” has the same meaning as in paragraph 2.
(2) A person (D) does not incur liability under regulation 30(1) for loss caused by a statement if D satisfies the court—
(a)that before the transferable securities in question were acquired, a correction had been published in a manner calculated to bring it to the attention of persons likely to acquire the securities, or
(b)that D took all such steps as it was reasonable for D to take to secure such publication and reasonably believed that it had taken place before the securities were acquired.
(3) Nothing in this paragraph is to be taken as affecting paragraph 2.