(1) Where any business of a company is carried on with such intent and for such purposes as is mentioned in subsection (1) of section 26 of this Act, every person who was knowingly a party to the carrying on of the business in the manner aforesaid, shall be liable on conviction on indictment to imprisonment for a term not exceeding five years or to a fine not exceeding five hundred pounds or to both such imprisonment and fine.

(2) The provisions of this section and of section 26 of this Act shall have effect notwithstanding that the person concerned may be criminally liable in respect of the matters on the grounds of which the declaration is to be made, and where the declaration under subsection (1) of section 26 of this Act is made the declaration shall be deemed to be a final judgment of the Court.