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(a) a body corporate, society or other body of persons, every person who at the time of the commission of the offence was a director, secretary or other officer of the body corporate, society or other body of persons as well as that body corporate, society or other body of persons commits the offence; (b) a partnership or firm, every partner of the partnership or firm as well as that partnership or firm commits the offence, and shall be liable to be prosecuted. (2) No person referred to in subsection (1) shall be found guilty of an offence where he proves, that - (a) the act constituting the offence took place without his knowledge or consent; or (b) he exercised all due diligence to prevent the commission of the offence. Grounds for appointing an official administrator 114. (1) The Central Bank may appoint an official administrator for a licensed financial institution or licensed financial holding company where: (a) the Central Bank determines that the licensed financial institution or licensed financial holding company has: (i) violated any provision of this Act or Regulations made under this Act or prudential standards issued by the Central Bank, or (ii) engaged in any unsafe and unsound practices, in such a manner as to weaken the licensed financial institution’s or licensed financial holding company’s condition, threaten depositors’ interests, or dissipate the licensed financial institution’s or licensed financial holding company’s assets; PART IX OFFICIAL ADMINISTRATION

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