(1) If a corporation commits an offence against a provision of this Law specified in column 2 of Schedule 4, each executive officer of the corporation who knowingly authorised or permitted the conduct constituting the offence also commits an offence against the provision.
Maximum penalty—the penalty for a contravention of the provision by an individual.
(2) If a corporation commits an offence against a provision of this Law specified in column 3 of Schedule 4, each executive officer of the corporation who knew or ought reasonably to have known—
(a) of the conduct constituting the offence; or
(b) that there was a substantial risk that the offence would be committed;
also commits an offence against the provision.
Maximum penalty—the penalty for a contravention of the provision by an individual.
(3) For the purposes of subsection (2), it is a defence for the executive officer to prove—
(a) the officer exercised reasonable diligence to ensure the corporation complied with the provision; or
(b) the officer was not in a position to influence the conduct of the corporation in relation to the offence.
(4) An executive officer of a corporation may be proceeded against and convicted for an offence against the provision whether or not the corporation has been proceeded against or convicted under that provision.
(5) Nothing in this section affects any liability imposed on a corporation for an offence committed by the corporation under the provision.
(6) Nothing in this section affects the application of any other law relating to the criminal liability of any persons (whether or not executive officers of the corporation) who are accessories to the commission of an offence or are otherwise involved in the contravention giving rise to an offence.
(7) This section does not apply to an executive officer acting on a voluntary basis, whether or not the officer is reimbursed for the expenses incurred by the officer for carrying out activities for the corporation.