Hong Kong Ordinances

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SECT 48

Liability of company officers

Where an offence under section 41(1), (3), (4), (5) or (6), 42(1) or (2),
44(4) or 45 of this Ordinance is committed by a corporation and—

   (a)  in committing the offence the corporation is aided, abetted,
        counselled, procured or induced by an officer of the corporation or a
        person purporting to act as such; or

   (b)  the offence is committed with the consent or connivance of, or is
        attributable to any recklessness on the part of, an officer of the
        corporation or a person purporting to act as such, then that officer
        of the corporation or person purporting to act as such

(as well as the corporation) commits the offence and is liable to be proceeded
against and punished accordingly.