Staff of the Board

(1) The Government may appoint a Chief Executive Officer and such other officers and staff as they consider necessary for the performance of the functions of the Board. (2) The terms and conditions of service of the staff shall be as prescribed by the Government. (1) Where an offence under this Act has been committed by a company, every person, who at the time of offence was committed was in charge of, and was responsible to the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge, or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or commission of, or is attributable to, any neglect on the part of every officer of the company, such officer of the company shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation.—For the purpose of this section,— (a) “Company” means any body corporate and includes a firm, a Co-operative Society or other Association of individuals; (b) “Officer of the Company” means the Managing Director, Director, Secretary, Treasurer or Manager of the Company and includes, the office bearers of a firm, Co-operative Society or other Association of individuals; (c) “Director” in relation to a firm means a partner of that firm.