26. Where any offence under this Act or any regulations made thereunder is committed by a body of persons then
(a) if that body of persons is a body corporate, every person who at the time of commission of the offence was a Director or officer of that body corporate ; or |
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(b) if that body of persons is a body other than a body corporate, every person who at the time of commission of the offence was a member of that body, |
| shall be deemed to be guilty of that offence: Provided however that, such Director, officer or member shall not be deemed to be guilty of that offence if he proves that the offence was committed without his knowledge or that he exercised all such diligence to prevent the commission of such offence as he ought to have exercised in the circumstances having regard to the nature of his functions. |