Cap 584 s 48 Liability of company officers (CLEARING AND SETTLEMENT SYSTEMS ORDINANCE)

Contents of Section

Chapter:	584	Title:	CLEARING AND SETTLEMENT SYSTEMS ORDINANCE	Gazette Number:	L.N. 145 of 2004
Section:	48	Heading:	Liability of company officers	Version Date:	04/11/2004

Where an offence under section 41(1), (3), (4), (5) or (6), 42(1) or (2), 44(4) or 45 of this Ordinance is committed by a corporation and—

(a) in committing the offence the corporation is aided, abetted, counselled, procured or induced by an officer of the corporation or a person purporting to act as such; or

(b) the offence is committed with the consent or connivance of, or is attributable to any recklessness on the part of, an officer of the corporation or a person purporting to act as such,

then that officer of the corporation or person purporting to act as such (as well as the corporation) commits the offence and is liable to be proceeded against and punished accordingly.