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- Point in Time (18/07/1996)
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Version Superseded: 01/12/2001
Point in time view as at 18/07/1996. This version of this provision has been superseded.
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(1)Any person who—
(a)makes a statement, promise or forecast which he knows to be misleading, false or deceptive, or dishonestly conceals any material facts; or
(b)recklessly makes (dishonestly or otherwise) a statement, promise or forecast which is misleading, false or deceptive,
is guilty of an offence if he makes the statement, promise or forecast or conceals the facts for the purpose of inducing, or is reckless as to whether it may induce, another person (whether or not the person to whom the statement, promise or forecast is made or from whom the facts are concealed)—
(i)to make, or refrain from making, a deposit with him or any other person; or
(ii)to enter, or refrain from entering, into an agreement for the purpose of making such a deposit.
(2)This section does not apply unless—
(a)the statement, promise or forecast is made in or from, or the facts are concealed in or from, the United Kingdom or arrangements are made in or from the United Kingdom for the statement, promise or forecast to be made or the facts to be concealed;
(b)the person on whom the inducement is intended to or may have effect is in the United Kingdom; or
(c)the deposit is or would be made, or the agreement is or would be entered into, in the United Kingdom.
(3)A person guilty of an offence under this section shall be liable—
(a)on conviction on indictment, to imprisonment for a term not exceeding seven years or to a fine or to both;
(b)on summary conviction, to imprisonment for a term not exceeding six months or to a fine not exceeding the statutory maximum or to both.
(4)For the purposes of this section the definition of deposit in section 5 above shall be treated as including any sum that would be otherwise excluded by subsection (3) of that section.
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