https://www.taxtmi.com/acts?id=23082 Section 70 establishes corporate liability under the Prevention of Money Laundering Act, making a company and persons in charge of its business liable for contraventions, subject to a defence that the person lacked knowledge or exercised all due diligence to prevent the breach. It further deems directors, managers, secretaries or other officers guilty where the contravention occurred with their consent or connivance or is attributable to their neglect. Explanations define "company" to include firms and associations and "director" in a firm to mean a partner, and confirm prosecution of a company need not be contingent on prosecuting any individual. en-us Wed, 16 Nov 2016 12:23:51 +0530 Wed, 16 Nov 2016 15:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23082 Section 70 establishes corporate liability under the Prevention of Money Laundering Act, making a company and persons in charge of its business liable for contraventions, subject to a defence that the person lacked knowledge or exercised all due diligence to prevent the breach. It further deems directors, managers, secretaries or other officers guilty where the contravention occurred with their consent or connivance or is attributable to their neglect. Explanations define "company" to include firms and associations and "director" in a firm to mean a partner, and confirm prosecution of a company need not be contingent on prosecuting any individual. Act-Rules Money Laundering Wed, 16 Nov 2016 12:23:51 +0530 https://www.taxtmi.com/acts?id=23082