Comparison View

Formal Consolidation |  2000 RevEd
Registration of business which is designed to promote pyramid selling scheme or arrangement prohibited
4.—(1)  No business which is designed to promote a multi-level marketing scheme or arrangement or a pyramid selling scheme or arrangement shall be registered under any written law relating to the registration of businesses.
(2)  A person who in contravention of subsection (1) obtains registration of a business which is designed to promote a multi-level marketing scheme or arrangement or a pyramid selling scheme or arrangement shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000 or to imprisonment for a term not exceeding 5 years or to both.
[19/2000]
Informal Consolidation | Amended Act 29 of 2014
Registration of business designed to promote pyramid selling scheme or arrangement prohibited
4.—(1)  A person must not apply to be registered under the Business Names Registration Act 2014 under any business name in respect of any business that is designed to promote a multi‑level marketing scheme or arrangement or a pyramid selling scheme or arrangement.
(2)  A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000 or to imprisonment for a term not exceeding 5 years or to both.
[Act 29 of 2014 wef 03/01/2016]