Victorian Current Acts

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CRIMES ACT 1958 - SECT 191

Fraudulently inducing persons to invest money

S. 191(1) amended by Nos 9576 s. 11(1), 49/1991 s. 119(1)
(Sch. 2 item 49), 48/1997
s. 60(1)(Sch. 1 item 69).

    (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 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 in or underwriting securities or lending or depositing money to or with any corporation; 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 acquire or offer to acquire any right or interest under any arrangement the purpose or effect or pretended purpose or effect of which is to provide facilities for the participation by persons in profits or income alleged to arise or to be likely to arise from the acquisition holding management or disposal of any property other than securities; 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

shall be guilty of an indictable offence and liable to level 4 imprisonment (15 years maximum).

    (2)     Any person guilty of conspiracy to commit any offence against the last preceding subsection shall be punishable as if he had committed such an offence.

S. 191(3) amended by No. 6716 s. 2(Sch. 1).

    (3)     In this section unless inconsistent with the context or subject-matter—

"corporation" means any body corporate whether incorporated in Victoria or elsewhere;

"debentures" means any debentures debenture stock or bonds of a corporation, whether constituting a charge on the assets of the corporation or not;

"securities" means—

        (a)     shares or debentures or rights or interests (whether described as units or otherwise) in any shares or debentures; or

        (b)     securities of the Government of any part of Her Majesty's dominions or the Government of any foreign state; or

        (c)     rights (whether actual or contingent) in respect of money lent to or deposited with any corporation

and includes rights or interests (whether described as units or otherwise) which may be acquired under any trust scheme under which all property for the time being subject to any trust created in pursuance of the scheme consists of such securities as are mentioned in paragraph (a)(b) or (c) of this interpretation;

"shares" means shares in the share capital of a corporation or stock of a corporation.

S. 192 repealed by No. 69/2009 s. 38.

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S. 193 repealed by No. 9848 s. 18(1).

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Pt 1 Div. 2 Subdiv. (21) (Heading and ss 194, 195) repealed by No. 8425 s. 2(1)(f).

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Pt 1 Div. 2AA (Heading and ss 192A–192E) inserted by
No. 22/2009 s. 3.

Division 2AA—Identity crime

S. 192A inserted by No. 22/2009 s. 3.



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