Section 137Part 5 — Company Restructuring and Winding UpAmended
Material omissions from statement relating to company ’ s affairs
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Amended by LG72/S3
Where a company is being wound up, whether by the Court or voluntarily, a person who is or was a director, an officer , a manager , restructuring officer, controller or a professional service provider of the company, commits an offence if that person makes any material omission in any statement relating to the company ’ s affairs, with intent to defraud the company ’ s creditors or contr ibutories.
A person who commits an offence under subsection (1) 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. Gener al provisions