section 402(1)


402(1) Every one who, being a trader or in business, (a) is indebted in an amount exceeding one thousand dollars, (b) is unable to pay his creditors in full, and (c) has not kept books of account that, in the ordinary course of the trade or business in which he is engaged, are necessary to exhibit or explain his transactions, is guilty of an indictable offence and liable to imprisonment for a term not exceeding two years.