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ACT VII OF 2010 ACT VII OF 2010 ANTI-MONEY LAUNDERING ACT, 2010 An Act to provide for prevention of money laundering [Gazette of Pakistan, Extraordinary, Part I, 27th March 2009] No.F.9 (4)/2010-Legis., dated 27-3-2010.--The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on 26th March, 2010, is hereby published for general information: Whereas, it is expedient to provide for prevention of money laundering combating financing of terrorism and forfeiture of property derived from, or involved in, money laundering or financing of terrorism and for matters connected therewith or incidental thereto; It is hereby enacted as follows:-- 37. Offences by companies.--(1) Where a person committing a contravention of any of the provisions of this Act or of any rule, direction, or order made there under is a company, every person who, at the time the contravention was committed, was responsible for such contravention in the conduct of the business of company shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly: Provided that nothing contained in this subsection shall render any such person liable to punishment if he proves that the contravention took place without his knowledge or that he exercised all due diligence to prevent such contravention. (2) Notwithstanding anything in subsection (1) where a contravention of any of the provisions of this Act or of any rule, direction or order made hereunder has been committed by a company and it is proved that the contravention has taken place with the consent, connivance or knowledge of any director, manager, secretary or other officer of any company, such director, manager, secretary or other officer shall also be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly. Explanation.--For the purposes of this section the impression "director" in relation to a firm, means a partner in the firm.