Section 208(1)

When a company is being wound up, whether by the court or voluntarily, any person, being a past or present officer of the company, commits an offence if he— does not to the best of his knowledge and belief fully and truly discover to the liquidator all the company’s property, and how and to whom and for what consideration and when the company disposed of any part of that property (except such part as has been disposed of in the ordinary way of the company’s business), or does not deliver up to the liquidator (or as he directs) all such part of the company’s property as is in his custody or under his control, and which he is required by law to deliver up, or does not deliver up to the liquidator (or as he directs) all books and papers in his custody or under his control belonging to the company and which he is required by law to deliver up, or knowing or believing that a false debt has been proved by any person in the winding up, fails to inform the liquidator as soon as practicable, or after the commencement of the winding up, prevents the production of any book or paper affecting or relating to the company’s property or affairs.

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