Section 47
Liability of directors and other officers of bodies corporate
If an offence against this Act or the rules or regulations that has been committed by a body corporate is proved to have been committed with the consent or connivance, or to have been attributable to any neglect on the part, of a director, manager, secretary, or other similar officer of the body coporate, or a person purporting to act in any such capacity, the director, manager, secretary, officer, or person, as the case may be, shall be deemed to have also committed that offence, and both he and the body corporate are liable to be proceeded against and punished therefor.
(2)
For the purpose of subsection (1), the director of a body corporate that is established by or under any law and whose affairs are managed by its members, includes a member of the body corporate.