47A. [ Penalty for offences committed by any Company. [Inserted by Act 6 of 1985.]
- Where any offence punishable under this Act is committed by a Company, and it is 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, Agent, Officer or person concerned in the management of the Company, such Director, Manager, Secretary, Agent, Officer or person concerned, shall be liable to be proceeded against and punished accordingly.For the purposes of this section-(a)'Company' means a body corporate and includes a firm or other association of individuals; and(b)'Director' in relation to a firm means a partner of the firm.]
