Section 404. Depletion of assets when at risk of insolvency

A penalty of a fine or imprisonment for a term not exceeding two years shall be applied to a debtor who commits an inappropriate act which
  1. a.
    is likely to prevent an asset serving as payment for one or more creditors, and
  2. b.
    causes the debtor to be, become, or be at tangible risk of becoming insolvent.
A situation in which insolvency cannot be established pursuant to the first paragraph, b), does not result in exemption from punishment if the cause is an intentional or grossly negligent violation of accounting provisions by the debtor pursuant to statute or regulations.