MENU

Section 294 of Insolvency Act CAP 53: Offences in relation to credit, etc

    

(1) A bankrupt commits an offence if, during the three years preceding the making of the application to the Court for a bankruptcy order in respect of the bankrupt, or at any time after the application was made—
(a) the bankrupt obtains property on credit and has not paid for the property; and
(b) the bankrupt obtains the property—
(i) by making a false representation or doing some other fraudulent act;
(ii) by falsely stating the position of the bankrupt's financial affairs; or
(iii) under the false pretence of carrying on business and dealing in the ordinary course of trade.
(2) A bankrupt commits an offence if, during the three years immediately preceding the making of the application to the Court for a bankruptcy order in respect of the bankrupt, or at any time after the application was made, the bankrupt (otherwise than in the ordinary course of business) pawns, mortgages, creates a security right or disposes of any property that the bankrupt has obtained but for which the bankrupt has not made payment.
(3) In proceedings for an offence under subsection (1) or (2), it is a defence to prove that, at the relevant time, the bankrupt had no intention to defraud.

« Previous:   Section 293 - Offence in relation to fictitious losses or expenses          Next: »   Section 295 - Offences in relation to obtaining consent of creditors

Disclaimer: This document is not to be taken as legal advise.

Enhance Your Research with Bookmarks and Annotations

Here's how you can use these features:

  • To bookmark this page, click the "Bookmark this Page" button below the document title.
  • To add an annotation, highlight text in the document and select "Add Annotation" from the toolbar that appears.
  • These features are great for organizing your research and keeping track of key information.
  • You can view and manage your bookmarks and annotations on your Bookmarks and Annotations page.

Cited By:

More Sections