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s 104

Liability of regulated entity

In force
Part 9Miscellaneous

104 Liability of regulated entity

If an agent of a regulated entity commits an offence under this Act – the regulated entity is taken to have committed the offence; and proceedings for the offence may be brought against the regulated entity whether or not proceedings are brought against the agent.

It is a defence in proceedings for an offence under subsection (1) if the regulated entity can show that it – issued written instructions and took reasonable precautions to ensure compliance with this Act; and did not know the offence had been committed; and could not reasonably have prevented the commission of the offence.

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