Part V Share Capital, its Increase, Maintenance and Reduction

Chapter IV Reduction of Share Capital

141 Penalty for concealing name of creditor, etc.

If an officer of the company—

(a)

wilfully conceals the name of a creditor entitled to object to the reduction of capital; or

(b)

wilfully misrepresents the nature or amount of the debt or claim of any creditor; or

(c)

aids, abets or is privy to any such concealment or misrepresentation as is mentioned above,

he is guilty of an offence and liable to a fine.