Companies Act 2014 section 719

Material omission in statement relating to company's affairs, failure to report false debt, etc.

Section 719 sets out the offences committed by relevant persons who omit material information from statements about a company's affairs, fail to report false debts, obstruct access to company records, or attempt to explain away company property using fictitious losses or expenses during a winding up.

• A relevant person who makes any material omission in a statement relating to the company's affairs commits a category 2 offence.
• A relevant person who knows or believes a false debt has been proved in the winding up but fails to inform the liquidator within 30 days commits a category 2 offence.
• A relevant person who, after the winding up has commenced, prevents the production of any book or document relating to the company's property or affairs commits a category 2 offence.
• A relevant person who attempts to account for company property by means of fictitious losses or expenses — whether after the winding up begins or at any creditors' meeting within the 12 months before it began — commits a category 2 offence.