Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Trading Schemes Act 1996

Consolidated Text As Enacted Cited authorities 5 Cited in Amendments 6 Related
Vincent
JurisdictionUK Non-devolved
Citation1996 c. 32
Year1996
  • For section 118 of the
    • the prospect is held out to participants of receiving payments or other benefits in respect of any of the matters specified in subsection (2) of this section; and(subject to subsection (7) of this section) either or both of the conditions in subsections (3) and (4) of this section are fulfilled in relation to the scheme.the introduction by any person of other persons who become participants in a trading scheme;the continued participation of participants in a trading scheme;the promotion, transfer or other change of status of participants within a trading scheme;the supply of goods or services by any person to or for other persons;the acquisition of goods or services by any person.goods or services, or both, are to be provided by the person promoting the scheme (in this Part of this Act referred to as “the promoter”) or, in the case of a scheme promoted by two or more persons acting in concert (in this Part of this Act referred to as “the promoters”) , by one or more of those persons; andare to be supplied to or for other persons under transactions effected by participants (whether in the capacity of agents of the promoter or of one of the promoters or in any other capacity) , orare to be used for the purposes of the supply of goods or services to or for other persons under such transactions.The condition in this subsection is that goods or services, or both, are to be supplied by the promoter or any of the promoters to or for persons introduced to him or any of the other promoters (or an employee or agent of his or theirs) by participants.For the purposes of this Part of this Act a prospect of a kind mentioned in paragraph (a) of subsection (1) of this section shall be treated as being held out to a participant whether it is held out so as to confer on him a legally enforceable right or not.under which the promoter or any of the promoters or participants is to carry on, or to purport to carry on, investment business in the United Kingdom (within the meaning of section 1 of the which otherwise falls within a

    To continue reading

    Request your trial
    Navigation index

    VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT