INVESTMENTS AND SECURITIES ACT

Section 66: Contravention of part VIII by bodies corporate.

2007Section 66 of 316Federal Republic of Nigeria

(1) Where a contravention of any provision under this part is committed by a body corporate and it is proved that the contravention has been committed :
(a) with the connivance of or as a result of any neglect on the part of a director, manager, secretary or other similar officer, servant or agent of the body corporate or any person purporting to act in any such capacity; or
(b) as a result of a director, manager, secretary or other similar officer, servant or agent of the body corporate or any person purporting to act in any such capacity knowingly or wilfully authorising the contravention, the director, manager, secretary or other similar officer, servant or agent of the body corporate or any person purporting to act in any such capacity shall be deemed liable to the same extent as the corporate body.
(2) The Commission may administratively apply any of the penalties prescribed for the contravention of any of the provisions of this part.

Cite this section

Section 66, INVESTMENTS AND SECURITIES ACT (2007).

https://repo.podus.ai/laws/investments-and-securities-act/section/66/