(1) Without prejudice to section 40 and any action which may be instituted under this Act, where a credit bureau or any other entity commits an offence under this Act, every director, partner or other senior officer of the credit bureau or other entity who had knowledge of and consented to the commission of the offence, or who caused the commission of the offence by reason of his or her negligence, default, or breach of duty or trust —
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(a) shall, subject to subsection (2), be proceeded against as if the director, partner or other senior officer committed the offence; and
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(b) is liable, on summary conviction, to a fine of $10 000 whether or not any action has been instituted against the credit bureau or other entity.