Financial Reporting Act 1993

Before its repeal, this Act was administered by: Ministry of Business, Innovation, and Employment
  • repealed
  • Financial Reporting Act 1993: repealed, on 1 April 2014, by section 54 of the Financial Reporting Act 2013 (2013 No 101).
40 Defences

  • It is a defence to a director of an entity charged with an offence under any of sections 36 to 39 if the director proves that—

    • (a) the directors of the entity took all reasonable and proper steps to ensure that the applicable requirement of this Act would be complied with; or

    • (b) he or she took all reasonable and proper steps to ensure that the directors of the entity complied with the applicable requirement; or

    • (c) in the circumstances he or she could not reasonably have been expected to take steps to ensure that the directors of the entity complied with the applicable requirement.