Offences by Officers of Companies Penalty for Falsification of Books Frauds by Officers of Companies Liability where Proper Accounts Responsibility of Directors Power of Court to Assess Prosecution of Delinquent Officers Disqualification for Appointment Corrupt Inducement Enforcement of Duty of Liquidator Notification on Company Liquidation Exemption of Certain Documents Books of Company to be Evidence Disposal of Books and Papers Pending Liquidations Unclaimed Assets to be Paid Resolutions Passed at Meetings Meetings to Ascertain Wishes Affidavits, &c. Power of Court to Declare Dissolution Repealed 30 of 1999 s. 18 Government Disclaimer of Property Effect of Government Disclaimer Repealed 30 of 1999 s. 21 Striking Defunct Company Power of Court to Order Company Application for Deregistration Reinstatement Registrar to Act as Representative Property and Books etc. Effect on Section 292 Companies Liquidation Account Investment of Surplus Funds Accounts of Particular Estates General Rules and Fees Disqualification for Appointment Disqualification of Undischarged Power to Appoint Official Receiver Receivers Appointed out of Court Notification Power of Court to Fix Remuneration Provisions as to Information Special Provisions as to Statement Delivery to Registrar of Accounts Enforcement of Duty of Receiver Construction of References Registration Offices Protection of Registrar etc. Fees Inspection, Production and Evidence Authentication of Documents Enforcement of Duties: Ordinance Application to Companies Formed Application to Companies Registered Companies re-Registered Companies Capable Definition of Joint Stock Company Registration: Joint Stock Companies Other than Joint Stock Companies Authentication of Statements Registrar May Require Evidence Exemption of Certain Companies Addition of "Limited" etc., to Name Certificate of Registration Vesting of Property on Registration Saving for Existing Liabilities Continuation of Existing Actions Effect of Registration Power to Substitute Memorandum Power of Court to Stay Actions on Winding-up Order Meaning of Unregistered Companies Winding up of Unregistered Oversea Companies May be Contributories in Winding up Power to Restrain Proceeding Actions Stayed on Winding-up Provisions of Part X Cumulative Saving for Enactments Application of Part XI Documents, etc. to be Delivered Continuing Obligation in Respect Termination of Registration Registrar to Keep an Index Return to be Delivered to Registrar Accounts of Oversea Company Obligation to State Name Notice of Commencement Regulation of Use of Corporate Service of Documents on Oversea Notice to be Given Removal etc. of Name Penalties Interpretation of Part XI Dating of Prospectus and Particulars Exemption of Certain Persons Provisions as to Expert's Consent Registration of Prospectus Amendment of Prospectus Prospectus May Consist Submission of Certified Copies Penalty for Contravention Civil Liability for Misstatements Criminal Liability for Misstatements Interpretation of Provisions Dormant Companies Prohibition of Partnerships Documents Delivered to Registrar Power of Registrar to Accept Power of Registrar to Refuse Registrar not Responsible for Disposal of Documents Form of Registers etc. Power of Registrar to Keep Records Penalty for False Statements Penalty for Dishonest Destruction Penalty for Improper Use of "Limited" Obligation to Give Notice Injunctions Provision for Punishment Limitation on Commencement Production and Inspection of Books Application of Fines Saving as to Private Prosecutors Saving for Privileged Communications Service of Documents on Company Costs in Actions Power of Court to Grant Relief Power to Enforce Orders Power to Make Regulations Power to Amend Requirements Repealed 30 of 1999 s. 34 Power to Refuse Registration Power to Order Company Certain Sections not to Apply Vesting and Disposal of Property Provisions Applicable to Winding up Certain Sections to Apply Calls on Contributories Continuation of Legal Proceedings Obstruction of Official Receiver Control of Official Receiver Audit of Official Receiver's Accounts Protection of Official Receiver Companies to Which Part XI Applies Saving Saving II Saving III Savings and Transitional Transitional Application of the Amending

Section Num: 271  Version Date 13/02/2004

Offences by officers of companies in liquidation

Offences antecedent to or in course of Winding Up

(1) If any person, being a past or present officer of a company which is at the time of the commission of the alleged offence being wound up, whether by the court or voluntarily, or which, subsequently to that time, is ordered to be wound up by the court or passes a resolution for

voluntary winding up-

(a) does not to the best of his knowledge and belief fully and truly discover to the liquidator all the property, real and personal, of the company, and how and to whom and for what consideration and when the company disposed of any part thereof, except such part as has been disposed of in the ordinary way of the business of the company; or

(b) does not deliver up to the liquidator, or as he directs, all such part of the real and personal property of the company as is in his custody or under his control, and which he is required by law to deliver up; or

(c) does not deliver up to the liquidator, or as he directs, all books and papers in his custody or under his control belonging to the company and which he is required by law to deliver up; or

(d) within 12 months next before the commencement of the winding up or at any time thereafter conceals any part of the property of the company to the value of $100 or upwards, or conceals any debt due to or from the company; or

(e) within 12 months next before the commencement of the winding up or at any time thereafter fraudulently removes any part of the property of the company to the value of $100 or upwards; or

(f) makes any material omission in any statement relating to the affairs of the company; or

(g) knowing or believing that a false debt has been proved by any person under the winding up, fails for the period of a month to inform the liquidator thereof; or

(h) after the commencement of the winding up prevents the production of any book or paper affecting or relating to the property or affairs of the company; or

(i) within 12 months next before the commencement of the winding up or at any time thereafter, conceals, destroys, mutilates, or falsifies, or is privy to the concealment, destruction, mutilation, or falsification of, any book or paper affecting or relating to the property or affairs of the company; or

(j) within 12 months next before the commencement of the winding up or at any time thereafter makes or is privy to the making of any false entry in any book or paper affecting or relating to the property or affairs of the company; or

(k) within 12 months next before the commencement of the winding up or at any time thereafter fraudulently parts with, alters, or makes any omission in, or is privy to the fraudulent parting with, altering, or making any omission in, any document affecting or relating to the property or affairs of the company; or

(l) after the commencement of the winding up or at any meeting of the creditors of the company within 12 months next before the commencement of the winding up attempts to account for any part of the property of the company by fictitious losses or expenses; or

(m)-(n) (Repealed 21 of 1970 s. 35)

(o) within 12 months next before the commencement of the winding up or at any time thereafter pawns, pledges, or disposes of any property of the company which has been obtained on credit and has not been paid for, unless such pawning, pledging, or disposing is in the ordinary way of the business of the company; or

(p) is guilty of any false representation or other fraud for the purpose of obtaining the consent of the creditors of the company or any of them to an agreement with reference to the affairs of the company or to the winding up, he shall, in the case of the offence mentioned in paragraph (o), be liable to imprisonment, and in the case of any other offence shall be liable to imprisonment and a fine:  (Amended 7 of 1990 s. 2)

Provided that it shall be a good defence to a charge under any of paragraphs (a), (b), (c), (d), (f) and (o), if the accused proves that he had no intent to defraud, and to a charge under any of paragraphs (h), (i) and (j), if he proves that he had no intent to conceal the state of affairs of the company or to defeat the law.  (Amended 21 of 1970 s. 35)

(2) Where any person pawns, pledges or disposes of any property in circumstances which amount to an offence under subsection (1)(o), any person who takes in pawn or pledge or otherwise receives the property knowing it to be pawned, pledged, or disposed of in such circumstances as aforesaid shall be guilty of an offence, and on conviction thereof liable to be punished in the same way as if he had received the property knowing it to have been obtained in circumstances amounting to an offence.

(3) For the purposes of this section, "officer" includes a shadow director.  (Amended 28 of 2003 s. 91)

(Amended 6 of 1984 s. 187)

[cf. 1929 c. 23 s. 271 U.K.]

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