116. Offence committed by any company, association of persons or property development joint venture.—

(1) If an offence is committed by any company or association of persons or property development joint venture, every director, partner, chief executive, manager, secretary, official, employee, representative or VAT Agent thereof having involvement with such offence shall be deemed to have committed such offence unless he proves that such offence was committed without his knowledge or he tried his best to prevent the commission of such offence.

(2) A company may be tried and punished  in the  same judicial proceeding  which is lodged against such director, partner, chief executive, manager, secretary, official, employee, representative or VAT Agent of such company, but no imprisonment other than fine shall be imposable upon such company.