242 False statement by promoter, etc

(1)

Every one is liable to imprisonment for a term not exceeding 10 years who, in respect of any body, whether incorporated or unincorporated and whether formed or intended to be formed, makes or concurs in making or publishes any false statement with intent—

(a)

to induce any person, whether ascertained or not, to acquire any financial product within the meaning of the Financial Markets Conduct Act 2013; or

(b)

to deceive or cause loss to any person, whether ascertained or not; or

(c)

to induce any person, whether ascertained or not, to entrust or advance any property to any other person.

(2)

In this section, false statement means any statement in respect of which the person making or publishing the statement—

(a)

knows the statement is false in a material particular; or

(b)

is reckless as to whether the statement is false in a material particular.

Compare: 1961 No 43 s 250

Section 242: replaced, on 1 October 2003, by section 15 of the Crimes Amendment Act 2003 (2003 No 39).

Section 242(1): amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).

Section 242(1)(a): replaced, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).