(1) Any shareholder of any of the merging companies who has suffered loss or damage by reason of misconduct in the preparation or implementation of the merger by a director of any such company or by the expert, if any, who has made a report under section 468 shall be entitled to have such loss or damage made good to him or her by -

(a) in the case of misconduct by a person who was a director of that company at the date of the common draft terms of merger - that person,

(b) in the case of misconduct by any expert who made a report under section 468 in respect of any of the merging companies - that person.

(2) Without prejudice to the generality of subsection (1), any shareholder of any of the merging companies who has suffered loss or damage arising from the inclusion of any untrue statement in any of the following, namely:

(a) the common draft terms of merger;

(b) the explanatory report, if any, referred to in section 467;

(c) the expert's report, if any, under section 468;