1950_COMPANIES_ORDINANCE — Page 154

CAP. 32]

(s. 256 cont.]

Companies.

(n) within twelve months next before the commence- ment of the winding up or at any time thereafter, under the false pretence that the company is carrying on its business, obtains on credit, for or on behalf of the company, any property which the company does not subsequently pay for; or (0) within twelve months next before the commence- ment of the winding up or at any time thereafter pawns, pledges, or disposes of any property of the company which has been obtained on credit and has not been paid for, unless such pawning, pledging, or disposing is in the ordinary way of the business of the company; or

(p) is guilty of any false representation or other fraud for the purpose of obtaining the consent of the creditors of the company or any of them to an agreement with reference to the affairs of the com- pany or to the winding up,

he shall, in the case of the offences mentioned respectively in paragraphs (m), (n) and (o), be guilty of a misdemeanor and liable on conviction on indictment to imprisonment for 22 of 1950, s. 3. five years, or on summary conviction to imprisonment for twelve months, and in the case of any other offence shall be guilty of a misdemeanor triable summarily and liable to imprisonment for two years: Provided that it shall be a good defence to a charge under any of paragraphs (a), (b), (c), (d), (f), (n) and (o), if the accused proves that he had no intent to defraud, and to a charge under any of para- graphs (h), (i) and (j), if he proves that he had no intent to conceal the state of affairs of the company or to defeat the law.

(2) Where any person pawns, pledges or disposes of any property in circumstances which amount to a mis- demeanor under paragraph (o) of subsection (1), any person who takes in pawn or pledge or otherwise receives the property knowing it to be pawned, pledged, or disposed of in such circumstances as aforesaid shall be guilty of a misdemeanor, and on conviction thereof liable to be punished in the same way as if he had received the property knowing it to have been obtained in circumstances amounting to a misdemeanor.

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