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PREVENTION OF FRAUD (INVESTMENTS) ACT (NORTHERN IRELAND) 1940 - SECT 1

1.(1) Subject to the provisions of the next following section, no person
shall, on or after such day as the Ministry of Commerce (in this Act referred
to as "the Ministry") may by order appoint

(a)carry on or purport to carry on the business of dealing in securities
except under the authority of a principal's licence, that is to say, a licence
under this Act authorising him to carry on the business of
dealing in securities, or

(b)in the capacity of a servant or agent of any person carrying on or
purporting to carry on that business, deal or purport to deal in securities
except under the authority of a representative's licence, that is to say, a
licence under this Act authorising him to deal in securities as a servant or
agent of any holder of a principal's licence for the time being in force.

(2) Any person who contravenes this section shall be liable, on conviction on
indictment, to imprisonment for a term not exceeding two years or to a fine
not exceeding five hundred pounds or to both such imprisonment and such fine
or, on summary conviction, to imprisonment for a term not exceeding six months
or to a fine not exceeding one hundred pounds or to both such imprisonment and
such fine.

(3) Proceedings for an offence under this section shall not be instituted
except by, or with the consent of, the Ministry or the Attorney General for
Northern Ireland:

Proviso rep. by 1975 c.59 s.14(5) sch.6 Pt.II

© 1940 Crown Copyright

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