251. Fraudulent application for removal of name
(1) Where it is found that an application by a company under sub-section (2) of
section 248 has been made with the object of evading the liabilities of the company or with
the intention to deceive the creditors or to defraud any other persons, the persons in charge
of the management of the company shall, notwithstanding that the company has been
notified as dissolved—
(a) be jointly and severally liable to any person or persons who had incurred
loss or damage as a result of the company being notified as dissolved; and
(b) be punishable for fraud in the manner as provided in section 447.
(2) Without prejudice to the provisions contained in sub-section (1), the Registrar may
also recommend prosecution of the persons responsible for the filing of an application under
sub-section (2) of section 248.