Companies Act 2014 section 558ZQ

Offence where director fails to disclose information or misleads process adviser

Section 558ZQ creates criminal offences where a director of an eligible company intentionally withholds relevant information from, or provides false information to, a process adviser during the rescue process for small and micro companies.

• A director commits a category 2 offence if they intentionally fail to provide relevant information that the process adviser has requested and that is available to the director.
• It is equally an offence for a director to intentionally supply false or misleading information to the process adviser regarding the eligible company.
• A director also commits an offence by failing to disclose available information that they know, or ought to know, is relevant to the process adviser's work — even if the process adviser has not specifically requested it.
• "Relevant information" means any information that is material to the process adviser carrying out their functions under this part of the Act.