Cap. 545 Art. 14Administrative infringements by bodies corporate and undertakings.

Where an administrative infringement breaches -

(a) any provision of this Act;

(b) regulations made thereunder;

(c) any other law which the Regulator is entitled to enforce; or any person -

(i) fails to comply with any directive or decision given by the Regulator whether under this Act, regulations made thereunder or under any other law which the Regulator is entitled to enforce; or

(ii) fails to comply with any condition of any authorisation granted under this Act, and the infringement is committed by an undertaking or body corporate and is proved to have been committed with the consent, or involvement of, or to be attributable to, any gross negligence on the part of a person being a director, manager, secretary or other officer, however so described, of such body corporate or undertaking or a person who was purporting to act in any such capacity, such person and such body corporate shall be responsible for the said infringement and shall be jointly and severally liable for the payment of any administrative penalty imposed by the Regulator as a consequence thereof.