Company name removal fraud makes managers jointly and severally liable for losses and criminally punishable for fraud. Section 251 provides that if an application under section 248(2) to remove a company's name is made to evade liabilities or to deceive creditors or defraud others, the persons in charge of management remain liable despite dissolution, being jointly and severally liable for losses suffered and punishable for fraud under the criminal provision; additionally, the Registrar may recommend prosecution of those responsible for filing the application.