The following Corporate Crime guidance note provides comprehensive and up to date legal information covering:
A bankrupt commits an offence if they make, or cause to be made, at any time after the date five years prior to the commencement of the bankruptcy any gift or transfer of or any charge on their property.
Although the offence is termed 'fraudulent' disposal of property there is not express requirement of fraud as an element of the offence.
The statutory defence of innocent intention applies and is the critical consideration when advising clients about this offence.
Making a transfer or charge on property includes causing or conniving at the levying of execution against that property.
A bankrupt commits an offence if they conceal or remove any part of their property after or within two months before the date on which a judgment or order for the payment of money has been obtained against them where that judgment or order is not satisfied before the commencement of the bankruptcy.
The defence of innocent intention applies to this offence.
Proceedings for an offence under section 354 of the Insolvency Act 1986 (IA 1986) may only be instituted except by the Secretary of State (usually via Insolvency Service Criminal Enforcement Team (ISCET)) or with consent of the Director of Public Prosecutions (DPP).
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