Amendment status not verified — confirm the current text below against the official source.
(1) Where an offence under this Act has been committed by a company, every persvn wko, ~t the time the offence was ccrmmitted, was in charge of, and wae respon- sible to the company for the conduct of the business of the company, as wcll as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly : Provided that nothing contained in this sub-section shall render any such pcrson liable to any plwishment if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. . (2) Notwithstanding anything contained in sub-s~tion (11, where an offence under this Act bas been committed by a company aud it is proved that the offence bas been commit tcd with the consent or connivance of, or is attributable to, any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other oBcer shall elso be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. . - . Explanation-For the purposes of this section, ,- I (a) "company" means a body corporate and .includes a firm or other association of individuals; and @) '~dirw~or" in releaticin to a firm, means a partner in the firm. Power to