(1) Where an offence under this Ordinance has been committed by a company, every person who at the time the offence was committed we? in charge of, and was responsible to, the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence.
Penalties.
Offences by companies.
SEC 1] THE GAZEfTE OF INDIA EXTRAORDINARY 629
(2) Notwithstanding anything contained in sub-section (1), where any offence under this Ordinance has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is atributable to, any neglect on the part oi;, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer i shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
Explanation.—For the purposes of this section,—
(a) "company" means any body corporate and includes a firm or other association of individuals; and
(b) "director", in relation to a firm, means a partner in the firm.
16. No suit, prosecution or other legal proceeding shall He against the Central Government or the Government company for anything which is in good faith done, or intended to be done under this Ordinance.
17. Notwithstanding anything contained in the Code of Criminal Procedure, 1898, no court shall take cognizance of any offence against this Ordinance except on a complaint, in writing, made by the Central Government or any officer authorised in this behalf by that Government,
18. (I) The Central Government may, by notification in the Official Gazette, direct that all or any of the powers exercisable by it under this Ordinance may also be exercised by such person or persons as may be specified in the notification,
(2) Whenever any delegation of power is made under sub-section (1), the person to whom such power has been delegated shall act under the direction, control and supervision of the Central Government.
19. (I) The Central Government may, by notification in the Official Gazette, make rules to carry out the provisions of this Ordinance.
(2) Every rule made by the Central Government under this Ordinance shall be laid, as soon as may, be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall ba without prejudice to the validity of anything previously done under that rule.
& of 1898.
Protection of action taken in good faith.
Cognizance of offences.
Delegation of powers.
Power to make rules.
V. V. GIRI, President.
K. K. SUNDARAM, Secy, to the Govt. of India.
MINTED BY THE MANAGER, GOVERNMENT OF INDIA PRESS. MINTO ROAD, NEW DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS. DELHI, 1973