S. 85(1) amended by Nos 9576 s. 11(1), 49/1991
(Sch. 2 item 33), 48/1997
s. 60(1)(Sch. 1 item 63).
(1) Where an officer of a body corporate or unincorporated association (or person purporting to act as such), with intent to deceive members or creditors of the body corporate or association about its affairs, publishes or concurs in publishing a written statement or account which to his knowledge is or may be misleading, false or deceptive in a material particular, he is guilty of an indictable offence and liable to level 5 imprisonment (10 years maximum).
(2) For purposes of this section a person who has entered into a security for the benefit of a body corporate or association is to be treated as a creditor of it.
(3) Where the affairs of a body corporate or association are managed by its members, this section shall apply to any statement which a member publishes or concurs in publishing in connexion with his functions of management as if he were an officer of the body corporate or association.
S. 86 amended by No. 7876 s. 2(3), substituted by No. 8425 s. 2(1)(b).