Financial Intermediaries Act 1996

An officer, or former officer, of a society to which this section applies who—

does not to the best of the person’s knowledge and belief fully and truly disclose to the appropriate officer—

all the property of the society; and

how and to whom and for what consideration and when the society disposed of any part of its property, other than any part that has been disposed of in the ordinary course of the society’s business; or

does not deliver up to the appropriate officer, or as the appropriate officer directs—

all the property of the society in the person’s custody or under the person’s control and that the person is required by law to deliver up; or

all documents in the person’s custody or under the person’s control belonging to the society and that the person is required by law to deliver up; or

within 5 years before the relevant day or at any time on or after that day—

has concealed any part of the society’s property to the value of $100 or more, or has concealed a debt due to or from the society; or

has fraudulently removed part of the society’s property to the value of $100 or more; or

has concealed, destroyed, mutilated or falsified, or has been privy to the concealment, destruction, mutilation or falsification of a document affecting, or about, the society’s property or affairs; or

has made, or has been privy to the making of, a false entry in a document affecting or about the society’s property or affairs; or

has fraudulently parted with, altered or made an omission in, or has been privy to fraudulent parting with, altering or making an omission in a document affecting or about the society’s property or affairs; or

by a false representation or other fraud, has obtained on credit for or on behalf of the society, property that the society has not subsequently paid for; or

has obtained on credit for or on behalf of the society, under the false pretence that the society is carrying on business, property that the society has not subsequently paid for; or

has pawned, pledged or disposed of any of the society’s property that has been obtained on credit and has not been paid for, unless the pawning, pledging or disposing was in the ordinary course of the society’s business; or

knowingly makes a material omission in a statement about the society’s affairs; or

knowing or believing that a false debt has been proved by a person, fails for a period of 1 month to inform the appropriate officer of the knowledge or belief; or

prevents the production of a document affecting or about the society’s property or affairs; or

within 5 years before the relevant day, or at any time on or after that day, has attempted to account for any part of the society’s property by making entries in the society’s documents showing fictitious transactions, losses or expenses; or

within 5 years before the relevant day, or at any time on or after that day, has been guilty of a false representation or other fraud for obtaining the consent of the society’s creditors or any of them to an agreement about the society’s affairs or to the winding-up;

It is a defence to a charge—

under subsection (1)(a), (b) or (d) or subsection (1)(c)(i), (vii) or (viii), if the accused person proves that the person had no intent to defraud; and

under subsection (1)(c)(iii) or (iv) or subsection (1)(f), if the accused person proves that the person had no intent to conceal the society’s state of affairs or to defeat the law.

If a person pawns, pledges or disposes of property in circumstances that amount to an offence under subsection (1)(c)(viii), a person who takes in pawn or pledge or otherwise receives the property knowing it to be pawned, pledged or disposed of in those circumstances commits an offence.