Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Provisions) Act, 1975

Offences by directors and certain officers of banks.

7.—Where an offence under this Act is committed by a bank and is proved to have been so committed with the consent or approval of, or to have been facilitated by any neglect on the part of, any person, being a director, member of the committee of management or other controlling authority thereof, or manager, secretary, or other officer thereof, that person shall also be deemed to have committed the offence and shall be liable to be proceeded against and punished accordingly.