When a joint stock company fails to be incorporated, which of the following statements about the promoter’s liabilities is correct?
A.
They shall be liable individually for the debts and expenses according to their proportion of shares of the registered capital
B.
They shall be liable only for refunding the paid-up money to the subscribers
C.
They shall be liable, jointly and severally, for refunding the paid-up money plus bank deposit interest to the subscribers
D.
They shall not have any liabilities for the failure of incorporation under the principle of limited liability