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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 297

297.(1) If where a company is wound up it is shown that proper books of
account were not kept by the company throughout the period of two years
immediately preceding the commencement of the winding up, or the period
between the incorporation of the company and the commencement of the winding
up, whichever is the shorter, every officer of the company who is in default
shall, unless he shows that he acted honestly and that in the circumstances in
which the business of the company was carried on the default was excusable, be
liable on conviction on indictment to imprisonment for a term not exceeding
one year, or on summary conviction to imprisonment for a term not exceeding
six months.

(2) For the purposes of this section, proper books of account shall be deemed
not to have been kept in the case of any company if there have not been kept
such books or accounts as are necessary to exhibit and explain the
transactions and financial position of the trade or business of the company,
including books containing entries from day to day in sufficient detail of all
cash received and cash paid, and, where the trade or business has involved
dealings in goods, statements of the annual stocktakings and (except in the
case of goods sold by way of ordinary retail trade) of all goods sold and
purchased, showing the goods and the buyers and sellers thereof in sufficient
detail to enable those goods and those buyers and sellers to be identified.]

© 1960 Crown Copyright

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