Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part XII · General
149. Offence by body corporate
Feedback & supportIf a body corporate commits an offence under this Act or any regulations made under this Act, any person who, at the time of the commission of the offence, was a director, manager, secretary or other similar officer or was purporting to act in any such capacity—
director
“director”, in relation to a person specified in the first column of the First Schedule, has the meaning set out in the second column of the First Schedule as against such person;
may be charged severally or jointly in the same proceedings with the body corporate; and
if the body corporate is found to have committed the offence, shall be deemed to have committed that offence unless, having regard to the nature of his functions in that capacity and to all circumstances, he proves—
that the offence was committed without his knowledge, consent or connivance; and
that he took all reasonable precautions and had exercised due diligence to prevent the commission of that offence.