258Liability of directors etc for offences by corporation—offences attracting executive liability

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

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

(1) For the purposes of this section, an executive liability offence is an offence against any of the following provisions of this Act that is committed by a corporation—

(a) section 105(2),

(b) section 136(2),

(c) section 138(2),

(d) section 154(3),

(e) (Repealed)

(f) section 173(2),

(g) section 175(1),

(h)–(j) (Repealed)

(k) section 228,

(l) section 230(2),

(m) section 230A(2),

(n) section 241(2),

(o) section 254(1).

(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.

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