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Excerpts from the
Bankruptcy and
Insolvency Act
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BANKRUPTCY OFFENCES
Section 198
(1) Bankruptcy offences - Any bankrupt who |
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a) |
makes any fraudulent disposition of the bankrupt's property before
or after the date of the initial bankruptcy event, |
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b) |
refuses or neglects to answer fully and truthfully all proper
questions put to the bankrupt at any examination held pursuant to this
Act, |
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c) |
makes a false entry or knowingly makes a material omission in a
statement or accounting, |
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d) |
after or within one year immediately preceding the date of the
initial bankruptcy event, conceals, destroys, mutilates, falsifies,
makes an omission in or disposes of, or is privy to the concealment,
destruction, mutilation, falsification, omission from or disposition
of, a book or document affecting or relating to the bankrupt's
property or affairs, unless the bankrupt has no intent to conceal the
state of the bankrupt's affairs, |
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e) |
after or within one year immediately preceding the date of the
initial bankruptcy event, obtains any credit or any property by false
representation made by the bankrupt or made by any other person to the
bankrupt's knowledge, |
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f) |
after or within one year immediately preceding the date of the
initial bankruptcy event, fraudulently conceals or removes any
property of a value of fifty dollars or more or any debt due to or
from the bankrupt, or |
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g) |
after or within one year immediately preceding the date of the
initial bankruptcy event, hypothecates, pawns, pledges or disposes of
any property that the bankrupt has obtained on credit and has not paid
for, unless in the case of a trader the hypothecation, pawning,
pledging or disposing is in the ordinary way of trade and unless the
bankrupt had no intent to defraud, |
| is guilty of an offence and is liable, on summary
conviction, to a fine not exceeding five thousand dollars or to
imprisonment for a term not exceeding one year, or to both, or on
conviction on indictment, to a fine not exceeding ten thousand dollars
or to imprisonment for a term not exceeding three years, or to both. |
| (2) |
Failure to comply with duties - A bankrupt who, without reasonable cause,
fails to comply with an order of the court made under section 68 or to
do any of the things required of the bankrupt under section 158 is
guilty of an offence and is liable |
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a) |
on summary conviction, to a fine not exceeding five thousand dollars
or to imprisonment for a term not exceeding one year, or to both; or |
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b) |
on conviction on indictment, to a fine not exceeding ten thousand
dollars or to imprisonment for a term not exceeding three years, or to
both. |
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