(3) A liquidator of an insolvent estate who fails to submit to the Master an account or to pay over a sum of money within thirty (30) days from the date on which he or she became obliged to submit such account or pay over such sum of money, or fails to comply with the duties listed in section 42 within thirty (30) days from the date of liquidation is guilty of an offence and liable on conviction to a fine or imprisonment for a period not exceeding six (6) months or to both a fine and such imprisonment.

(4) Any person who is convicted of an offence contemplated-

(a) in subsection (1 )(a) or (b) or subsection (2)(f), (g) or (h) is liable to a fine or to imprisonment for a period not exceeding three (3) years or to both a fine and such imprisonment;

(b) in subsection (1)(c), (d), (e), (e), (f), (g), (h), (i) or (u) or subsection (2) (e) is liable to a fine or to imprisonment for a period not exceeding twelve (12) months or to both a fine and such imprisonment;

(c) in subsection (2)(a), (b), (c) or (d) is liable to a fine or to imprisonment for a period not exceeding six (6) months or to both a fine and such imprisonment.

• According to the Insolvency Act [Chapter 6:07]. PART XXIII: Corporate Rescue