Pyramid Schemes Bill 2001

Public bill · Private Member · Introduced

The Bill would outlaw pyramid schemes that take money from new members and promise them larger payments for recruiting others, without offering a genuine product, service or comparable benefit. It would make promoting, recruiting for or accepting payments under such schemes a criminal offence, cancel joining agreements and allow participants to recover their payments. Penalties could include fines, up to 12 months’ imprisonment for less serious convictions, or up to five years’ imprisonment on indictment; company directors and officers could also be liable.

Formal long title

Bill entitled an Act to prohibit the inducing of persons to participate in certain multi-level or pyramid schemes and to provide for other matters connected with such schemes

Last updated 1 August 2018