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PREVENTION OF FRAUD (INVESTMENTS) ACT (NORTHERN IRELAND) 1940 - SECT 12

12.(1) Any person who, by any statement, promise or forecast which he knows to
be misleading, false or deceptive, or by any dishonest concealment of material
facts, or by the reckless making [(dishonestly or otherwise)] of any
statement, promise or forecast which is misleading, false or deceptive,
induces or attempts to induce another person

(a)to enter into, or offer to enter into

(i)any agreement, for, or with a view to, acquiring, disposing of, subscribing
for or underwriting securities..., or

(ii)any agreement the purpose or pretended purpose of which is to secure a
profit to any of the parties from the yield of securities or by reference to
fluctuations in the value of securities, or

[(b)to take part or offer to take part in any arrangements with respect to
property other than securities, being arrangements the purpose or effect, or
pretended purpose or effect, of which is to enable persons taking part in the
arrangements (whether by becoming owners of the property or any part of the
property or otherwise) to participate in or receive profits or income alleged
to arise or to be likely to arise from the acquisition, holding, management or
disposal of such property, or sums to be paid or alleged to be likely to be
paid out of such profits or income], or

(c)to enter into or offer to enter into an agreement the purpose or pretended
purpose of which is to secure a profit to any of the parties by reference to
fluctuations in the value of any property other than securities,

(2) Any person guilty of conspiracy to commit an offence under the preceding
sub-section shall be punishable as if he had committed such an offence.

© 1940 Crown Copyright

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