BU231 Chapter Notes - Chapter 27: Regulatory Offence, Mens Rea, Absolute Liability
Document Summary
Regulatory ofense breach of a regulaion that resembles a criminal ofense, but is usually not as harsh. You must establish that the accused has mens rea (a guilty mind) Absolute liability no mens rea is required if it is an absolute liability ofense (i. e. going over the speed limit because you have a broken speedometer) Since creditors can"t go ater personal assets, only corporaion assets then they can claim against directors and oicers for breach of duty if they waste assets. Preservaion of capital can"t pay out shareholders if it will leave the corporate insolvent (liabiliies > assets) Basically chapter 18 can"t have unsafe workplaces. Must irst get a prospectus required published document. Coninuing disclosure must be very public with all your informaion. Need reliable informaion get good accountants to audit. Liability in tort: almost always on account of a negligent or wrongful act by an employee, oicer, or agent liability is vicarious.
