36AALiability of directors etc for offences by corporation—offences attracting executive liability

36AA Liability of directors etc for offences by corporation—offences attracting executive liability

36AA Liability of directors etc for offences by corporation—offences attracting executive liability

(1) For the purposes of this section, an executive liability offence is—

(a) an offence against any of the following provisions of this Act that is committed by a corporation—

(i) section 18C,

(ii) section 19,

(iii) section 33H,

(iiia) section 33HA,

(iv) section 33I,

(v) section 33J,

(vi) section 33JA,

(vii) section 33JB,

(viii) section 33JC, or

(b) an offence against the regulations—

(i) that is prescribed by the regulations as an offence to which this section applies, and

(ii) that is committed by a corporation.

(2) A person commits an offence against this section if—

(a) a corporation commits an executive liability offence, and

(b) the person is—

(i) a director of the corporation, or

(ii) an individual who is involved in the management of the corporation and who is in a position to influence the conduct of the corporation in relation to the commission of the executive liability offence, and

(c) the person—

(i) knows or ought reasonably to know that the executive liability offence (or an offence of the same type) would be or is being committed, and

(ii) fails to take all reasonable steps to prevent or stop the commission of that offence.

Maximum penalty—The maximum penalty for the executive liability offence if committed by an individual.

(3) The prosecution bears the legal burden of proving the elements of the offence against this section.