False information in insolvency applications triggers penal fines for knowingly false statements and material omissions. The provision makes a person punishable where they furnish information in an application under section 7 that is false in material particulars, knowing it ... Summary
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False information in insolvency applications triggers penal fines for knowingly false statements and material omissions.
The provision makes a person punishable where they furnish information in an application under section 7 that is false in material particulars, knowing it to be false, or omit any material fact knowing it to be material; such person is liable to a monetary fine within the statutory minimum and maximum limits.
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