Queensland Consolidated Acts Queensland Consolidated Acts(1) The executive officers of a corporation must ensure the corporation complies with the consumer credit laws.
(2) If a corporation commits an offence against a provision of a consumer credit law, each of the corporation's executive officers also commits an offence, namely, the offence of failing to ensure the corporation complies with the provision.
Maximum penalty--the penalty prescribed for the contravention of the provision by an individual.
(3) Evidence that a corporation has been convicted of an offence against a provision of a consumer credit law is evidence each of the corporation's executive officers committed the offence of failing to ensure the corporation complies with the provision.
(4) However, it is a defence for an executive officer to prove--
(a) the officer was not in a position to influence the corporation's conduct in relation to the offence; or
(b) if the officer was in a position to influence the corporation's conduct in relation to the offence--the officer exercised reasonable diligence to ensure the corporation complied with the provision.
(5) In this section--
convicted, of an offence, means the corporation has been found guilty of the offence, on a plea of guilty or otherwise, whether or not a conviction was recorded.