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Excerpts from the Bankruptcy and Insolvency Act
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Excerpts from the Bankruptcy and Insolvency Act - Canada

 

FAILURE TO DISCLOSE FACT OF BEING AN UNDISCHARGED BANKRUPT


Section 199

An undischarged bankrupt who


a)


engages in any trade or business without disclosing to all persons with whom the undischarged bankrupt enters into any business transaction that the undischarged bankrupt is an undischarged bankrupt, or


b)


obtains credit to a total of five hundred dollars or more from any person or persons without informing such persons that the undischarged bankrupt is an undischarged bankrupt;

is guilty of an offence punishable on summary conviction and is liable to a fine not exceeding five thousand dollars or to imprisonment for a term not exceeding one year, or to both.

 

 

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