175BLiability of directors etc for offences by corporation—offences attracting executive liability

175B Liability of directors etc for offences by corporation—offences attracting executive liability

175B 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 86 (1), (2) or (4),

(b) section 90J (1) or (2),

(c) section 91AA (6),

(d) section 91G,

(e) section 91Q (1),

(f) section 91R,

(g) section 99 (1),

(h) section 118A (1) or (2),

(i) section 118B (1),

(j) section 118C (1),

(k) section 118D (1),

(l) section 133 (4),

(l1) section 153I(1),

(m) section 156A (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.