Amendment status not verified — confirm the current text below against the official source.
Oflanoas'bly Gampaniesa~fllbl If! the person committing! an offence under this.Aot.is:aJ company, every officer of‘ the company who is. in. default as well as the cornpany,- shalt be deemed! to: be guilty of the offénce and shall‘be liablettobc proceeded against and punished accordingly: ' RroWdedltliatf in) any proceeding" against an officer of the company in\ respect ofazn ofi‘énce‘ undér' this [tot it‘ appears to the court hearing the case that the offénce‘ iS' not attributable to the negligence; default; Breach of'duty;.misfeasance or breach of trust emmnittedxbyy tho' ofiicembntx that! he hasr acted honestly and reasonably and thathavinga reganiitb’all’ the circumstances of'tlie canajnduding, those connected. with. his‘ appohltment, he ought fairly, to be. excused; the. count. may: relieve him either wholly' or partly,.fromi his-.liability on such terms~as= it may think fit. (2) Notwithstanding anything contained in' sub-section (it), where an offence under. this Act has been. committed. by a company and‘ it" is‘proved that' the offence- hasbeen committedwithi the consent‘ Wmmi‘vance of; or is attributable to any wilful negligence,