I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 47 Disposition versions

2019-06-13

47. If a legal person or an agent, mandatary or employee of a legal person, of a partnership or of an association without legal personality commits an offence under this Act, the directors of the legal person, partnership or association are presumed to have committed the offence unless it is established that they exercised due diligence, taking all necessary precautions to prevent the offence.

For the purposes of this section, in the case of a partnership, all partners, except special partners, are presumed to be directors of the partnership unless there is evidence to the contrary appointing one or more of them, or a third person, to manage the affairs of the partnership.

1966-67, c. 73, s. 44; 1999, c. 40, s. 27; 2018, c. 23, s. 385.

1999-10-22

47. Where a legal person has infringed this Act or a regulation, any officer, director, employee or agent of such legal person who directed, authorized, assented to, acquiesced in or participated in the commission of the offence is deemed to have been a party to the offence and is liable to the same penalty as is provided for the legal person, whether or not the legal person has been prosecuted or convicted.

1966-67, c. 73, s. 44; 1999, c. 40, s. 27.

1999-04-01

47. Where a corporation has infringed this act or a regulation, any officer, director, employee or agent of such corporation who directed, authorized, assented to, acquiesced in or participated in the commission of the offence is deemed to have been a party to the offence and is liable to the same penalty as is provided for the corporation, whether or not the corporation has been prosecuted or convicted.

1966-67, c. 73, s. 44.