991. Liability of company as officer in default

Past version: effective from 14/06/2015 - 13/06/2015
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(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.