s 416 Making of false claims, etc.
416.—(1) Any creditor in any bankruptcy, composition or arrangement with creditors shall be guilty of an offence if the creditor makes any claim, proof, declaration or statement of account which is untrue in any material particular unless the creditor satisfies the court that the creditor had no intent to defraud. (2) A creditor shall be guilty of an offence if the creditor obtains or receives any money, property or security from any person as an inducement for forbearing to oppose, or for consenting to, the discharge of a bankrupt. (3) A person shall be guilty of an offence if the person, knowing that a bankruptcy order has been made against a debtor, removes, conceals, receives or otherwise deals with or disposes of any part of the property of the debtor, with intent to defeat the order. (4) Fines imposed and levied under this section are deemed to be part of the property of the bankrupt and vest in the Official Assignee.