41. Section 51 of the principal enactment as amended by Act No. 26 of 1991 is hereby further amended as follows :
| (1) in subsection (1) of that section by the repeal of paragraph (b) of that subsection and the substitution therefor of the following paragraph : |
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| "(b) furnishes or produces, for the purposes of this Act or any requirement imposed under the provisions of this Act or of any regulation or any rule made thereunder, any information which is, or any return, document or statement. the contents of which are, to his knowledge, untrue, incorrect or misleading: or"; |
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| (2) in subsection (2) of that section by the substitution for all the words from "shall be liable on conviction to the end of that subsection, of the words "shall be liable on conviction after summary trial by a Magistrate to of imprisonment of either description for a period not exceeding five years or to a fine not less than fifty thousand rupees and not exceeding ten million rupees or to both such imprisonment and fine.". |
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| (3) by the addition immediately after subsection (2) of that section, of the following new subsection : |
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| "(3) Where any offence under this Act is committed by a body corporate, any person who is at the time of the commission of the offence, a director, manager, secretary or other similar officer of the body corporate shall be deemed to be guilty of that offence unless he proves that such offence was committed without his knowledge or connivance or that he exercised all due diligence to prevent the commission of that offence as he ought to have exercised having regard to the nature of his functions and all the circumstances of the case.". |
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Sri Lanka Consolidated Acts