Insolvency Act · s 16

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s 16False representations etc.

(1)

If, for the purpose of obtaining the approval of the members or creditors of a company to a proposal for a voluntary arrangement, a person who is an officer of the company —

(a)

makes any false representation; or

(b)

fraudulently does, or omits to do, anything, he is guilty of an offence and liable on conviction to a fine not exceeding

$10,000, imprisonment for a term not exceeding 2 years or both.

(2)

Subsection (1) applies even if the proposal is not approved.