Companies Act 2014 section 718

Other fraudulent acts (relating to obtaining credit, irregular pledges, etc.) within 12 months preceding winding up or any time thereafter: offences

Section 718 sets out the criminal offences that arise when a relevant person engages in fraudulent conduct relating to obtaining credit, disposing of unpaid-for property, or deceiving creditors, within the 12 months before a company enters winding up or at any time after winding up has commenced.

• It is a category 2 offence to obtain property on credit for the company by false representation or fraud, where the company does not subsequently pay for that property.
• It is a category 2 offence to obtain property on credit for the company by falsely pretending the company is still carrying on business, where the company does not subsequently pay for it (subject to the defences in section 720).
• It is a category 2 offence to pawn, pledge, or dispose of company property that was obtained on credit and remains unpaid for, unless this is done in the ordinary course of the company's business (subject to the defences in section 720).
• It is a category 2 offence to make any false representation or commit any other fraud in order to obtain the consent of the company's creditors to an agreement concerning the company's affairs or its winding up.