167Liability of directors etc for offences by corporation—offences attracting executive liability

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

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

(1) 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 concerned in the management of the corporation or who is otherwise 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 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.

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

(3) The offence against this section can only be prosecuted by a person who can bring a prosecution for the executive liability offence.

(4) This section—

(a) does not affect the liability of the corporation for the executive liability offence, and

(b) applies whether or not the corporation is prosecuted for, or convicted of, the executive liability offence.

(5) This section does not affect the application of any other law relating to the criminal liability of persons, whether or not directors or other managers of the corporation, who are—

(a) accessories to the commission of the executive liability offence, or

(b) otherwise concerned in, or party to, the commission of the executive liability offence.

(6) In this section—

director has the same meaning as in the Corporations Act 2001 of the Commonwealth.