sec.162Executive officers must ensure corporation complies with Act

### sec.162 Executive officers must ensure corporation complies with Act The executive officers of a corporation must ensure that the corporation complies with this Act. If a corporation commits an offence against a provision of this Act, each of the executive officers of the corporation also commit an offence, namely, the offence of failing to ensure that the corporation complies with this Act. Maximum penalty—the penalty for the contravention of the provision by an individual. Evidence that the corporation has committed an offence against this Act is evidence that each of the executive officers committed the offence of failing to ensure that the corporation complies with this Act. However, it is a defence for an executive officer to prove that— the corporation’s offence was committed without the officer’s knowledge or consent; and the officer took all reasonable steps to ensure that the corporation complied with this Act. s 162 prev s 162 exp 19 December 1994 (see s 180(1)) pres s 162 ins 1994 No. 42 s 44 (sec.162-ssec.1) The executive officers of a corporation must ensure that the corporation complies with this Act. (sec.162-ssec.2) If a corporation commits an offence against a provision of this Act, each of the executive officers of the corporation also commit an offence, namely, the offence of failing to ensure that the corporation complies with this Act. Maximum penalty—the penalty for the contravention of the provision by an individual. (sec.162-ssec.3) Evidence that the corporation has committed an offence against this Act is evidence that each of the executive officers committed the offence of failing to ensure that the corporation complies with this Act. (sec.162-ssec.4) However, it is a defence for an executive officer to prove that— the corporation’s offence was committed without the officer’s knowledge or consent; and the officer took all reasonable steps to ensure that the corporation complied with this Act. - (a) the corporation’s offence was committed without the officer’s knowledge or consent; and - (b) the officer took all reasonable steps to ensure that the corporation complied with this Act.