Amendment status not verified — confirm the current text below against the official source.
(1) If theperson committing an offence under this Actisa Company, the Company as well as eVery person in charge of and respon— sible to the company for the conduct of its businesstat the timexof“ the commission of the ofience shall be deemed lo be guilty of the ofl'enc: and shall be liable to he proceeded against and punished accordingly. Provided that nothing contained in' this sub-section shall render any" such person liable to any punishment if he proves that the ofi'encewaés. committed without his knowledge 'or that be exercised due deligence to- prevent the commission of such offence. (2) Notwithstanding anything contained in sub—section (t) where? an offence under this act has been committed bya company wand it is proved that the offence has been committed with the cdnsent or commit— vance of, or that the Commission of the offence is attributable to any neglect on the part of any Director, Manager, Secretary, or other office? of the Company, Such Director, Manager, Secretary or other Officers shall also be deemed to be guilty of that ofi‘ence and shall be liable to be proceeded against and punished accordingly. - Expla'zatz‘on : for the purposes of this section : (a) “Company’: means a body corporate and includes a firm or other association of individuals ': and (b) “Director” in relation to a firm means a partner in the firm...