44. Offences by body corporate or other bodies

Where an offence under this Act or any regulations made under this Act has been committed by a body corporate or other body of persons—

any person who, at the time of the commission of the offence was a director, manager, secretary or other similar officer or a partner of the body corporate or other body of persons; or

was purporting to act in such capacity, shall, as well as the body corporate or other body of persons, be deemed to have committed that offence unless he proves that the offence was committed without his knowledge or connivance or that he took all reasonable precautions or that he had exercised due diligence to prevent the commission of the offence.