All sections · Part V: Shares · Sub-Part VI: Alteration of capital
88 Penalty for concealing name of creditor, etc
If an officer of the company in respect of an application to the Court under this
Sub-Part —
(a) wilfully conceals the name of a creditor entitled to object to the reduction
of share capital;
(b) wilfully misrepresents the nature or amount of the debt or claim of a
creditor; or
(c) aids, abets or is privy to any such concealment or misrepresentation,
the officer is guilty of an offence and is liable on conviction to a fine not
exceeding US$25,000.
Sub-Part —
(a) wilfully conceals the name of a creditor entitled to object to the reduction
of share capital;
(b) wilfully misrepresents the nature or amount of the debt or claim of a
creditor; or
(c) aids, abets or is privy to any such concealment or misrepresentation,
the officer is guilty of an offence and is liable on conviction to a fine not
exceeding US$25,000.
