Amendment status not verified — confirm the current text below against the official source.
(1) If the person committing an offence under this Act is a Company, every person who, at the time the offence was committed, was in charge of the Company as well as was responsible to the Company for the conduct of business by the Company, shall be liable to be proceeded against and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment provided in this Act, if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence. (2). Notwithstanding anything contained in sub-section (/), where an offence under this Act has been committed with the consent or connivance of, or is attributable to any negligence on the part of, any director, manager, secretary or other officer of the Company, such director, manager, secretary or other officer, as the case may be, shall be liable to be proceeded against and punished accordingly. PUNJAB GOVT. GAZ. (EXTRA), JANUARY9, 2014 17 (PAUSA 19, 1935 SAKA) Explanation. 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 includes a partner in the firm.