Section 135Part 5 — Company Restructuring and Winding UpAmended
Transactions in fraud of creditors
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Amended by LG72/S3
Where a company is ordered to be wound up by the Court or passes a resolution for voluntary winding up, any officer , restructuring officer, controller or professional service provider of the company who —
has made or caused to be made any gift or transfer of, or charge on, or has caused or connived at the levying of any executio n against, the company ’ s property; or
has concealed or removed any part of the company ’ s property, with intent to defraud the company ’ s creditors or contributories commits an offence and is liable on conviction to a fine and to imprisonment for five ye ars.