Section 27

Any body corporate which commits an offence under, or fails to comply with, any of the provisions of this Act or of any regulation made thereunder shall be liable to a fine not exceeding twenty-five thousand dollars and, for a second or subsequent offence, to a fine not exceeding fifty thousand dollars.

Where a person charged with an offence under any of the provisions of this Act or of any regulation made thereunder is a body corporate every person who, at the time of the commission of such offence is a director or officer of such body corporate may be charged jointly in the same proceedings with such body corporate, and where the body corporate is convicted of the offence charged, every such director or officer shall be deemed to be guilty of that offence unless he proves that the offence was committed without his knowledge or that he took reasonable precautions to prevent its commission.

Any person who would have been liable under any of the provisions of this Act or of any regulation made thereunder to any penalty for anything done or omitted if such thing had been done or omitted by him personally, shall be liable to the same penalty if such thing has been done or omitted by his partner, agent or servant, unless he proves that he took reasonable precautions to prevent the doing or omission of such thing.