Versions

 

248. Material omissions from statement relating to Company's affairs

When a Company is being wound up or has entered insolvent administration, any past or present officer of the Company commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule if he makes any material omission in any statement relating to the Company's affairs (including a Statement of Affairs) with the intention of defrauding the creditors of the Company.