(1) Wficre any offence under this Ordinance has been committed by a company, every person who, at the time the offence was committed, was directly in charge of, and was responsible to, the company for the conduct of the business of Ihe company, as well as the company, shall be deemed lo 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 provided in this Ordinance, if he proves that the offence was committed without his knowledge or that he has exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where an offence under this Ordinance has been committee1 by a company and It hi proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 7
Explanation.— For the purposes of this section,—
(a) "company- means any body corporate and Include* a firm or other association of individuals; and (&) "director", In relation to a firm, means a partner in the firm.
21. (/) If any difficulty arises in giving effect to the P™***** **» Otdln.Jc7.he S t a l l Government may, by order published In Ac Official OazeHcv make such provisions, not Inconsistent with the provisions of this Ordinance, ai appear to it to be necessary or expedient for removing the difficulty:
Provided lhat no such order shall be made oflcr (he expiry of the period of three yean from the date on which this Ordinance b promulgated by the President.
(2) Every order made under thta section shall, as soon as may be after it Is made, be laid before each House of Parliament Power to remove difficulties.