Section 44 of REGULATION) ACT, 20 10

bj' companies- or ofany rule made thereunder is a company, every person whc, at the time the contravention was committed, was in charge of, and was responsible to the company for the conduct ofthe business of the company, as well as the company, shall be deemed to be guilty of the contravention and shall be liable to fine: Provided that nothing contained in this sub-section shall render any such person liable to any punishment if he proves that the contravention was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such contravention.

1. (2)Notwithstanding anphing contained in sub-section (I), where a contravention of any of the provisions of this Act or of any rule made thereunder has been committed by a company and it is proved that the contravention has taken place with the consent or connivance of, or is attributable to any neglect on the'part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other oficer shall also be deemed to be guilty of that contravention and shall be liable to fine. Explanarion.-For the purpose of this section,-
   1. (a)"company" means a body corporate and indudes a fin or other association of individuals; and
2. (6)"director", in relation to a firm, means apartner in the firm. Offences by