Liability Of Officer In Default
990. Liability Of Officer In Default(1) This section has effect for the purposes of any provision of these Regulations to the effect that, in the event of contravention of these Regulations in relation to a company, a contravention is committed by every officer of the company who is in default.(2) For this purpose “officer” includes–(a) any director, manager or secretary, and(b) any person who is to be treated as an officer of the company for the purposes of the provision in question.(3) An officer is “in default” for the purposes of the provision if he authorises or permits, participates in, or fails to take all reasonable steps to prevent, the contravention.
991. Liability Of Company As Officer In Default(1) Where a company is an officer of another company, it does not commit a contravention of these Regulations as an officer in default unless one of its officers is in default.(2) Where any such contravention of these Regulations is committed by a company the officer in question also commits a contravention of these Regulations and is liable to be fined accordingly.(3) In this section “officer” and “in default” have the meanings given by section 990.(4) The provisions of this section are without prejudice to any other fine, censure or legal proceeding to which a director may be subject under these Regulations or any other law or regulation applicable in the Abu Dhabi Global Market.
992. Fines(1) If all or any of the amount of a fine payable under these Regulations is outstanding 30 days after notice of that fine has been issued, the Registrar may recover the outstanding amount as a debt due to it.(2) This section is subject to any direction of the Court.
993. Legal Professional Privilege
In proceedings against a person for a contravention of these Regulations, nothing in these Regulations is to be taken to require any person to disclose any information that he is entitled to refuse to disclose on grounds of legal professional privilege.