Section 21

Without prejudice to the provisions of subsection

, the Controller may issue a cer+ificate declaring, in rela-tion to a security, that any acts done before the issue of the certificate purporting to effect the issue or transfer of the security, being acts which were prohibited by this Act, are to be, and are always to have been, as valid as if they had been done with the permission of the Controller, and the said acts shall have effect accordingly.

Nothing in this section shall affect the liability of any person to prosecution for any offence against this Act.