||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¡X
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.
(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,