satisfies the court that he 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 company 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 company may then have contracted or mentions, as if it were an asset of the company, any right or property which, at the time, is not an asset or in any way conceals or disguises or attempts to conceal or disguise any loss which the company has sustained or gives any incorrect account thereof, unless he satisfies the court that he had no intent to defraud. For the purposes of this subsection an auditor of the company shall be deemed to be an officer of the company. (4 ) Every person shall be guilty of an offence and liable to imprisonment for a period not exceeding two years who, while being an officer of the company— (a ) causes or knowingly permits an undue preference as defined by the Insolvency Act [ Chapter 6:04] to be given by the company; or (b ) causes or knowingly permits any debt or debts to the aggregate amount of one hundred dollars or u pwards to be contracted by the company without any reasonable expectation that the company will be able to discharge the same and the company thereafter, being still a debtor for the said debt or debts, is wound up or placed under judicial management and is a company un able to pay its debts. (5 ) Every person shall be guilty of an offence and liable to imprisonment for a period not exceeding two years who, while being a director, secretary or manager of a company and at any time during the winding up or judicial management of the company— (a ) knowing or suspecting that a false debt has been or is about to be proved against the company, fails for a period of seven days to inform the Master or the liquidator or the judicial manager thereof in writing; or (b ) fails to disclose to the liquidator or judicial manager to the best of his knowledge all the property of the company of any kind and the manner in which, the person to whom, the consideration for which and the time when any part thereof was disposed of unless he satisfies the court that he had some lawful excuse for such failure; or (c) fails to deliver to the Master or liquidator or judicial manager as any one of them may direct, all books, documents, papers and writings in his custody or under his control relating to the property or affairs of the company, unless he satisfies the court that he had some lawful excuse for such failure; or (d ) prevents the production or delivery to the Master or liquidator or judicial manager of any books, doc uments or papers relating to the property or affairs of the company. (6 ) Every person shall be guilty of an offence and liable to imprisonment for a period not exceeding two years who, while being a director, manager or secretary of a company and at any time during the winding up or judicial management of the company, grants, promises or offers any consideration in order to induce any person to refrain from the investigation of the affairs of the company or from the prosecution on a criminal charge of any officer of the company or of any person with whom the company may have had business relations. (7 ) Where a company is being or has been wound up or is or has been under judicial management and is a company unable to pay its debts, every person shall be guilty of an offence and liable to imprisonment for a period not exceeding six months who, while being a director, manager or secretary of the company and being under examination at a meeting and being thereto required by the presiding officer, the liquidator, the judicial manager or any creditor or contributory or their respective agents, fails to account for or to disclose what has become of any of the property of the company which is proved to have been in his possession or, to his knowledge, in the possession of the company so recently before the commencement of the winding up or of the judicial management that in the ordinary course he ought to be able to account for the same. (8 ) For the purposes of paragraph (a) of subsection (1) and paragraph (a) of subsection (2), an auditor of a company shall be deemed to be an officer of the company. For the purposes of subsections (5), (6) and (7), a person who is a director, manager or secretary of a company at the commencement of the winding up or judicial management thereof shall be deemed to be a director, manager or secretary during the winding up or judicial management thereof notwithstanding that his duties may have ceased or that he is no longer gainfully employed by the company or by its liquidator or judicial manager on its behalf. [Section as amended by Act No. 22 of 2001] 318 Responsibility of directors and other persons for fraudulent conduct of business (1 ) If at any time it appears that any business of a company was being carried on— (a ) recklessly; or (b ) with gross negligence; or (c) with intent to defraud any person or for any fraudulent purpose; the court may, on the application of the Master, or liquidator or judicial manager or any creditor of or contributory to the company, if it thinks it proper to do so, declare that any of the past or present directors of the company or any other persons who were knowingly parties to the carrying on of the business in the manner or circumstances aforesaid shall be personally responsible, without limitation of liability, for all or any of the debts or other liabilities of the company as the court may direct.