Companies Act 1967 · 2020 Revised Edition · Part 12 · General
404. Fraudulently inducing persons to invest money
Official textFrom Singapore Statutes Online, unchanged
[Deleted by Act 42 of 2001]
[Deleted by Act 42 of 2001]
Whoever, being an officer or agent of any corporation, by any deceitful means or false promise and with intent to defraud, causes or procures any money to be paid or any chattel or marketable security to be delivered to that corporation or to himself, herself or any other person for the use or benefit or on account of that corporation shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $15,000 or to imprisonment for a term not exceeding 5 years or to both.
officer or agent
“officer or agent”, in relation to a corporation, includes —(a)a director, banker, solicitor or auditor of the corporation;(b)a person who at any time —(i)has been a person referred to in paragraph (a); or(ii)has been otherwise employed or appointed by the corporation;(c)a person who —(i)has in the person’s possession any property of the corporation;(ii)is indebted to the corporation; or(iii)is capable of giving information concerning the promotion, formation, trading, dealings, affairs or property of the corporation; and(d)where there are reasonable grounds for suspecting or believing that a person is a person mentioned in paragraph (c) — that person.
Upon the trial of a charge of an offence under this section, the opinion of any registered or public accountant as to the financial position of any company at any time or during any period in respect of which he or she has made an audit or examination of the affairs of the company according to recognised audit practice is admissible either for the prosecution or for the defence as evidence of the financial position of the company at that time or during that period, notwithstanding that the opinion is based in whole or in part on book‑entries, documents or vouchers or on written or verbal statements by other persons.
charge
“charge” includes a mortgage and any agreement to give or execute a charge or mortgage whether upon demand or otherwise;
Terms defined in this Act
charge
Defined · s 4“charge” includes a mortgage and any agreement to give or execute a charge or mortgage whether upon demand or otherwise;
company
Defined · s 4“company” means a company incorporated under this Act or under any corresponding previous written law;
corporation
Defined · s 4“corporation” means any body corporate formed or incorporated or existing in Singapore or outside Singapore and includes any foreign company but does not include —(a)any body corporate that is incorporated in Singapore and is by notification of the Minister in the Gazette declared to be a public authority or an instrumentality or agency of the Government or to be a body corporate which is not incorporated for commercial purposes;(b)any corporation sole;(c)any cooperative society;(d)any registered trade union; (da)any platform work association registered under the Platform Workers Act 2024; or(e)any limited liability partnership;
officer or agent
Defined · s 229“officer or agent”, in relation to a corporation, includes —(a)a director, banker, solicitor or auditor of the corporation;(b)a person who at any time —(i)has been a person referred to in paragraph (a); or(ii)has been otherwise employed or appointed by the corporation;(c)a person who —(i)has in the person’s possession any property of the corporation;(ii)is indebted to the corporation; or(iii)is capable of giving information concerning the promotion, formation, trading, dealings, affairs or property of the corporation; and(d)where there are reasonable grounds for suspecting or believing that a person is a person mentioned in paragraph (c) — that person.
public accountant
Defined · s 4“public accountant” means a person who is registered or deemed to be registered under the Accountants Act 2004 as a public accountant;
registered
Defined · s 4“registered” means registered under this Act or any corresponding previous enactment;