Jasmine and Laura are the only directors of Iceberg Pty Ltd. Peter is the Chief Financial Officer of Iceberg Pty Ltd. A court has determined that Iceberg Pty Ltd was insolvent and during the time it was insolvent it traded, thereby incurring debts. The court has also determined that at the time these debts were incurred Iceberg Pty Ltd was engaging in 'less than substantial compliance' with taxation laws. Which of the following is NOT correct?

A.If Iceberg Pty Ltd did not have a written constitution and it paid a dividend while it was insolvent, then the company would be deemed to have incurred a debt for the purposes of section 588G at the point in time at which the dividend was paid.

B.Even if they have breached 588G, the directors of Iceberg Pty Ltd may avoid liability if they can establish a defence under section 588H.

C.Jasmine and Laura could possibly be found to have committed a criminal offence.

D.All of them, Jasmine, Laura and Peter, may face liability under section 588G of the Corporations Act for insolvent trading.