Section 136Part 5 — Company Restructuring and Winding UpAmended
Misconduct in course of winding up
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Amended by LG72/S3
Where a company is being wound up, whether by the Court or voluntarily, a person wh o is or was a director, officer , restructuring officer, controller or professional service provider of the company an d who —
does not to the best of that person’s knowledge and belief fully and truly discover to the liquidator —
all the company ’ s property (except such part as has been disposed of in the ordinary way of the company ’ s business);
the date on wh ich and manner in which the company ’ s property or any part thereof property was disposed of, if it was disposed of;
the persons to whom any property was transferred, if it was disposed of; or
the consideration paid for any property which was dis posed of;
does not deliver up to the liquidator or does not deliver up in accordance with the directions of the liquidator any of the company ’ s property which is in that person’s custody or under that person’s control, and which that person is required by law to deliver up;
does not deliver up to the liquidator or does not deliver up, in accordance with the directions of the liquidator, all documents in that person’s custody or under that person’s control which belong to the company and which that person is required by law to deliver up;
knows or believes that a false debt has been proved by any person in the winding up and fails to inform the liquidator of such knowledge or belief as soon as practicable;
prevents the production of any docum ent affecting or relating to the company ’ s property or affairs; or
destroys, mutilates, alters or falsifies any books, papers or securities, or makes or is privy to the making of any false or fraudulent entry in any register, book of account or documen t belonging to the company, with intent to defraud the company ’ s creditors or contributories commits an offence and is liable on conviction to a fine of twenty five thousand dollars or to imprisonment for a term of five years, or to both.
In this section — “ officer ” includes a shadow director.