The chairman and members of the company's board of directors and its managers, auditors and officers responsible for its liquidation or, shall be punished with imprisonment for a period not exceeding (5) five years and / or a fine not exceeding (AED 1,000,000) million UAE dirhams, if, after a final decision is issued to initiate proceedings against the company, they commit any of the following actions: 1. Conceal, destroy or alter all or any of the company's books. 2. Embezzle or conceal of part of the company's assets. 3. Acknowledge debts that are not owed by the company, while being aware of the same, whether the acknowledgment is made in writing, orally, in the budget, or through refraining from submitting papers or clarifications in their possession while being aware of the consequences thereof. 4. Obtain approval of the preventive settlement proposal, plan or settlement terms through fraudulent means. 5. Declare matters that are contrary to the truth about the subscribed or paid-up capital, distribute fictitious profits, embezzle any of the company's assets in the form of bonuses, if it is proven that they are aware at the time of embezzling those assets that they were not entitled to all or any thereof.
Interpretation and application must be checked against the official text and current version.