Companies Act 2014 section 721

Other frauds by officers of companies which have gone into liquidation: offence

Section 721 deals with fraud-related offences committed by officers of companies that subsequently go into liquidation, whether by court order or voluntary resolution.

• An officer who induces any person to give credit to the company through false pretences or other fraud commits an offence if the company later goes into liquidation.
• An officer who, with intent to defraud creditors, makes or causes any gift, transfer, or charge on company property, or connives at the levying of any execution against company assets, commits an offence.
• An officer who, with intent to defraud creditors, conceals or removes company property since, or within two months before, an unsatisfied judgment or payment order against the company, commits an offence.
• Any officer found guilty of these fraudulent actions is liable for a category 2 offence under the Companies Act 2014.