§ 424B — Fraud by false representation, non-disclosure or abuse of position

424B.—(1) A person shall be guilty of an offence if he, fraudulently or dishonestly —(a)

makes a false representation;

(b)

fails to disclose to another person information which he is under a legal duty to disclose; or

(c)

abuses, whether by act or omission, a position which he occupies in which he is expected to safeguard, or not to act against, the financial interests of another person.

(2) A person may be guilty of an offence under subsection (1) whether or not the acts in subsection (1)(a), (b) or (c) were material.

(3) A person who is guilty of an offence under subsection (1) shall on conviction be punished with imprisonment for a term which may extend to 20 years, or with fine, or with both.

(4) This section does not apply to any act mentioned in subsection (1) which would constitute an offence under section 424A.[Act 15 of 2019 wef 28/07/2023]

—(1) A person shall be guilty of an offence if he, fraudulently or dishonestly —(a)

makes a false representation;

(b)

fails to disclose to another person information which he is under a legal duty to disclose; or

(c)

abuses, whether by act or omission, a position which he occupies in which he is expected to safeguard, or not to act against, the financial interests of another person.

(2) A person may be guilty of an offence under subsection (1) whether or not the acts in subsection (1)(a), (b) or (c) were material.

(3) A person who is guilty of an offence under subsection (1) shall on conviction be punished with imprisonment for a term which may extend to 20 years, or with fine, or with both.

(4) This section does not apply to any act mentioned in subsection (1) which would constitute an offence under section 424A.[Act 15 of 2019 wef 28/07/2023]