Offences by officers in liquidation: failure to disclose or deliver company assets triggers criminal liability with imprisonment and fines. Offences focus on officers' mandatory duties to disclose and deliver all company assets and books during winding up, and prohibitions on concealing, removing, destroying or falsifying property or records, procuring credit by fraud or false pretence, and making material omissions; secondary liability attaches to persons who knowingly receive property disposed of in breach of these prohibitions, and a defence exists if the accused proves lack of intent to defraud or conceal the company's true state of affairs.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Offences by officers in liquidation: failure to disclose or deliver company assets triggers criminal liability with imprisonment and fines.
Offences focus on officers' mandatory duties to disclose and deliver all company assets and books during winding up, and prohibitions on concealing, removing, destroying or falsifying property or records, procuring credit by fraud or false pretence, and making material omissions; secondary liability attaches to persons who knowingly receive property disposed of in breach of these prohibitions, and a defence exists if the accused proves lack of intent to defraud or conceal the company's true state of affairs.
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