Housing Development Finance Corporation of Sri Lanka Act 1997 · As enacted · Part VI · General
37. Offences
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Every person who—
knowingly allots, or registers, any shares in the
Corporation, to or in the name of, any person, in contravention of the provisions of section 17(5) ; or
knowingly secures the allotment or registration of any shares in the Corporation, to, or in the name of, any person, in contravention of the provisions of section 17(5) ; or
being a director, officer or auditor of the Corporation, discloses any matter relating to a transaction of the
Corporation, to any person for any purpose other than a purpose for which he is authorised to disclose such matter by this Act, shall be guilty of an offence under this Act and shall upon conviction after summary trial before a Magistrate, be liable to a fine not exceeding one hundred thousand rupees or to imprisonment of either description for a term not exceeding one year, or to both such fine and imprisonment.
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Where an offence under this Act is committed by a body of persons, then,—
if that body of persons is a body corporate, every director and officer of that body corporate ; or
if that body of persons is a firm, every partner of that firm, shall be deemed to be guilty of that offence :
Provided, however, that a director or officer of such body corporate or a partner of such firm, shall not be deemed to be guilty of such offence if he proves that such offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence.
Director
“ Director ” means a director of the Board; 26 Housing Development Finance Corporation of