Cap. 9 Art. 195Complicity in bankruptcy.

Complicity in bankruptcy shall be restricted solely to those persons who collude with the bankrupt to defraud his creditors:

Provided that no charge of complicity shall lie against any person -

(a) who, having simulated claims against the bankrupt, shall not have made such claims in the bankruptcy proceedings, either in his own name or through an intermediary;

(b) who, having colluded with the bankrupt for misapplying, concealing, or dissembling any part of his assets, shall first disclose the fact to the competent authority and shall furnish or indicate the means by which the things misapplied, concealed, or dissembled may be recovered.