South Australian Numbered Acts

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STATUTES AMENDMENT (DIRECTORS' LIABILITY) ACT 2011 (NO 36 OF 2011) - SECT 25

25—Substitution of section 47

Section 47—delete the section and substitute:

47—Offences by bodies corporate

        (1)         If a body corporate is guilty of a prescribed offence, each director of the body corporate is guilty of an offence and liable to the same penalty as is prescribed for the principal offence unless the director proves that he or she could not by the exercise of due diligence have prevented the commission of the offence.

        (2)         If a body corporate is guilty of any other offence against this Act, each director of the body corporate is guilty of an offence and liable to the same penalty as is prescribed for the principal offence if the prosecution proves that—

            (a)         the director knew, or ought reasonably to have known, that there was a significant risk that such an offence would be committed; and

            (b)         the director was in a position to influence the conduct of the body corporate in relation to the commission of such an offence; and

            (c)         the director failed to exercise due diligence to prevent the commission of the offence.

        (3)         Subsection (2) does not apply if the principal offence is an offence against section 14, 16, 17, 18, 20, 21, 22, 25A or 42 or is an offence against the regulations that is specified as an offence to which subsection (2) does not apply.

        (4)         In this section—

"prescribed offence" means an offence against section 7, 13, 13A, or  32.



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