Section 206(1)

When a company is ordered to be wound up by the court, or passes a resolution for voluntary winding up, any person, being a past or present officer of the company, is deemed to have committed an offence if, within the 12 months immediately preceding the commencement of the winding up, he has— concealed any part of the company’s property to the value of £500 or more, or concealed any debt due to or from the company, or fraudulently removed any part of the company’s property to the value of £500 or more, or concealed, destroyed, mutilated or falsified any book or paper affecting or relating to the company’s property or affairs, or made any false entry in any book or paper affecting or relating to the company’s property or affairs, or fraudulently parted with, altered or made any omission in any document affecting or relating to the company’s property or affairs, or pawned, pledged or disposed of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company’s business).

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Source: legislation.gov.uk · retrieved 2026-09-04