71. Consequences Of Failure To Make Required Disclosure

(1) This section applies to any legal proceedings brought by a company to which section 70 (requirement to disclose company name etc) applies to enforce a right arising out of a contract made in the course of a business in respect of which the company was, at the time the contract was made, in breach of rules under that section.
(2) The proceedings shall be dismissed if the defendant to the proceedings shows–
(a) that he has a claim against the claimant arising out of the contract that he has been unable to pursue by reason of the latter’s breach of the rules, or
(b) that he has suffered some financial loss in connection with the contract by reason of the claimant’s breach of the rules,
unless the Court before which the proceedings are brought is satisfied that it is just and equitable to permit the proceedings to continue.
(3) This section does not affect the right of any person to enforce such rights as he may have against another person in any proceedings brought by that person.