PART 11U.K.Supplementary and general

OffencesU.K.

202Liability of corporate officers for offencesU.K.

(1)In this section a “relevant entity” means an entity that is—

(a)the provider of a regulated service, and

(b)a legal person under the law under which it is formed.

(2)If an offence is committed by a relevant entity and it is proved that the offence—

(a)has been committed with the consent or connivance of an officer of the entity, or

(b)is attributable to any neglect on the part of an officer of the entity,

the officer (as well as the entity) commits the offence and (subject to section 199(1)) is liable to be proceeded against and punished accordingly.

(3)In relation to an entity which is a body corporate, “officer” means—

(a)a director, manager, associate, secretary or other similar officer, or

(b)a person purporting to act in any such capacity.

In paragraph (a) “director”, in relation to a body corporate whose affairs are managed by its members, means a member of the body corporate.

(4)In relation to a partnership which is not regarded as a body corporate under the law under which it is formed, “officer” means—

(a)a partner, or

(b)a person purporting to act as a partner.

(5)In this section—

• “body corporate” includes an entity incorporated outside the United Kingdom;

• “offence” means an offence under this Act, except under Part 10.