36C. Liability of director, officer, controller, etc.

Where any offence against any provision of this Act has been committed by any Labuan financial institution, any person who at the time of the commission of the offence was a director, officer, or controller, of the Labuan financial institution or was purporting to act in any such capacity, or was in any manner or to any extent responsible for the management of any of the affairs of such Labuan financial institution, or was assisting in such management, shall be guilty of that offence unless he proves that the offence was committed without his consent or connivance and that he exercised all such diligence to prevent the commission of the offence as he ought to have exercised, having regard to the nature of his functions in that capacity and to all the circumstances.

Power to prosecute offences