32 institution) give such directions as may be necessary for the resumption of the management and control of the institution by the officers thereof, including directions for the convening of a general meeting of members for the purpose of electing directors of the institution. (3) Upon the cancellation of a declaration any action or proceeding commenced against the financial institution concerned at the time when the declaration was issued, or right of action held against the institution at that time, shall be revived or may be recommenced, as may be appropriate. 41 Offences consequent upon administration (1) Where a troubled financial institution is under administration, every person shall be guilty of an offence and liable to imprisonment for a period not exceeding three years who, at any time within the six months immediately preceding the commencement of the administration, and while being an officer of the institution, does any of the following acts, unless he or she satisfies the court, in each case, that he or she had no intention to defraud, namely, every person who— (a) conceals, destroys, alters, falsifies or obliterates, or is privy to the concealment, destruction, mutilation or falsification, of any book or document relating to the property or affairs of the troubled financial institution or makes or is privy to the making of any false entry in any such book or document; or (b) conceals any part of the property of the troubled financial institution to the value of one hundred thousand dollars or upwards which ought by law to be divided amongst the creditors of the institution; or (c) causes or permits any property of the troubled financial institution, which it has obtained on credit and has not paid for, to be pledged, mortgaged or disposed of otherwise than in the ordinary course of the institution’s business. (2) Every person shall be guilty of an offence and liable to imprisonment for a period not exceeding three years who, while being an officer of a troubled financial institution and with intent to defraud the creditors of the institution in the event of its being subjected to insolvency or administration proceedings— (a) does any act specified in subsection (1); or (b) removes or disposes of any part of the property of the institution to the value of one hundred thousand dollars or upwards; or (c) parts with or is privy to the removal or disappearance of any books or documents relating to the property or affairs of the institution. (3) Where a troubled financial institution is under administration, every person shall be guilty of an offence and liable to imprisonment for a period not exceeding three years who, within the twelve months immediately preceding the commencement of the administration and while being an officer of the institution, acts as follows, unless he or she satisfies the court that he or she had no intention to defraud, namely, every such person who, when making any statement either verbally or in writing in regard to the business or affairs of the institution and for the information of its creditors or of any person who became its creditor on the faith of such a statement, conceals any liability, present or future, certain or contingent, which the institution may then have contracted or mentions, as if it were an asset of the institution, any right or property which, at the time, is not an asset or in any way conceals or