SCHEDULES
F3SCHEDULE A1 Moratorium where directors propose voluntary arrangement
Part VI Miscellaneous
F2 Offences
Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F141
1
This paragraph applies where a moratorium has been obtained for a company.
2
If, within the period of 12 months ending with the day on which the moratorium came into force, a person who was at the time an officer of the company—
a
did any of the things mentioned in paragraphs (a) to (f) of sub-paragraph (4), or
b
was privy to the doing by others of any of the things mentioned in paragraphs (c), (d) and (e) of that sub-paragraph,
he is to be treated as having committed an offence at that time.
3
If, at any time during the moratorium, a person who is an officer of the company—
a
does any of the things mentioned in paragraphs (a) to (f) of sub-paragraph (4), or
b
is privy to the doing by others of any of the things mentioned in paragraphs (c), (d) and (e) of that sub-paragraph,
he commits an offence.
4
Those things are—
a
concealing any part of the company’s property to the value of £500 or more, or concealing any debt due to or from the company, or
b
fraudulently removing any part of the company’s property to the value of £500 or more, or
c
concealing, destroying, mutilating or falsifying any book or paper affecting or relating to the company’s property or affairs, or
d
making any false entry in any book or paper affecting or relating to the company’s property or affairs, or
e
fraudulently parting with, altering or making any omission in any document affecting or relating to the company’s property or affairs, or
f
pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company’s business).
5
For the purposes of this paragraph, “officer” includes a shadow director.
6
It is a defence—
a
for a person charged under sub-paragraph (2) or (3) in respect of the things mentioned in paragraph (a) or (f) of sub-paragraph (4) to prove that he had no intent to defraud, and
b
for a person charged under sub-paragraph (2) or (3) in respect of the things mentioned in paragraph (c) or (d) of sub-paragraph (4) to prove that he had no intent to conceal the state of affairs of the company or to defeat the law.
7
Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under sub-paragraph (2) or (3), every person who takes in pawn or pledge, or otherwise receives, the property knowing it to be pawned, pledged or disposed of in circumstances which—
a
would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under sub-paragraph (2), or
b
amount to an offence under sub-paragraph (3),
commits an offence.
8
A person guilty of an offence under this paragraph is liable to imprisonment or a fine, or both.
9
The money sums specified in paragraphs (a) and (b) of sub-paragraph (4) are subject to increase or reduction by order under section 417A in Part XV.
Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)