ď‚§Every person who is a director of the company is liable to a fine not exceeding Kshs10,000 or imprisonment for a term not exceeding 12 months or both. However the accused may escape liability by proving that he had reasonable ground to believe and did believe that a competent and reliable person was charged with the duty and was in a position to discharge the same.
What are the statutory penalties for failure to keep proper books of account?
