ACT 28
KOOTU FUNDS (PROHIBITION) ACT 1971



Section 10. Criminal liability


(1) If the person committing an offence under this Act is a company, every person who at the time the offence was committed was a director, general manager, manager, secretary or other officer of the company concerned in the management of the company in the Federation or who was purporting to act in any such capacity, he as well as the company shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly:

Provided that it shall be a defence for such person, if he proves that the offence was committed without his consent or connivance and that he exercised such diligence to prevent the commission of the offence as he ought to have exercised having regard to the nature of his functions and to all other circumstances.

(2) For the purpose of this section "company" includes-

(3) Where the agent or servant of a person (such person being hereinafter in this section called "the principal") does anything or omits to do anything (which if done or omitted to be done by the principal would constitute an offence under this Act) the principal shall, notwithstanding that he has no knowledge of the offence, be deemed guilty of the offence and be liable to punishment for the offence:

Provided that it shall be a defence for the principal, if he proves-

(4) Where the agent or servant of the principal does anything or omits to do anything (which if done or omitted to be done by the principal would constitute an offence under this Act) such agent or servant shall also be guilty of that offence.

(5) The provisions of this section shall be in addition to and not in derogation from any other provisions of this Act.


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