Under Section 25(3) of the Banning of Unregulated Deposit Schemes Act, 2019, which of the following…
Section 25(3) deems guilty a director, partner, employee or other officer of the deposit taker where the offence is proved to have been committed with his "consent or…
Choose your answer
Under Section 25(3) of the Banning of Unregulated Deposit Schemes Act, 2019, which of the following persons may also be deemed guilty?
Answer and explanation
Correct answer D
Section 25(3) deems guilty a director, partner, employee or other officer of the deposit taker where the offence is proved to have been committed with his "consent or connivance" or to be attributable to his neglect. Each of the three can therefore be liable.