Investment Services Act (Cap. 370), article 22

22. (1) Any person who contravenes or fails to comply with any of the provisions of articles 3, 4, 9, 10, 11, 13, 15 or 26 or of article 13 as applied by article 14, or of articles 13, 14 or 15 as applied by articles 17 and 17D, or of any court order made under article 21 or of any regulations made under articles 12 or 31, or contravenes or fails to comply with any condition, obligation, requirement, directive or order made or given under any of the provisions of this Act, shall be guilty of an offence. (2) Any person who for the purposes of, or pursuant to, any of the provisions of this Act or of any regulations made thereunder, or any condition, obligation, requirement, directive or order made or given as aforesaid, furnishes information or makes a statement which he knows to be inaccurate, false or misleading in any material respect, or recklessly furnishes information or makes a statement which is inaccurate, false or misleading in any material respect, shall be guilty of an offence. (3) Any person who is knowingly a party to the carrying on of any investment service or of any activity by a collective investment scheme with a fraudulent intent or for a fraudulent purpose, shall be guilty of an offence. (4) 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 (whether dishonest or otherwise) of any statement, promise or forecast which is misleading, false or deceptive, induces or attempts to induce another person to enter into or offer to enter into an investment agreement, shall be guilty of an offence. (5) Any person who with intent to avoid detection of the commission of an offence under this Act removes, destroys, conceals or fraudulently alters any book, document or other paper, shall be guilty of an offence. (6) Any person who intentionally obstructs a person exercising rights conferred by this Act shall be guilty of an offence. Penalties. Amended by: XX. 2007.76; L.N. 425 of 2007; X. 2011.34.