Search Legislation

Scottish Independence Referendum Act 2013

Status:

This is the original version (as it was originally enacted).

Offences

This section has no associated Explanatory Notes

52(1)An individual who is a permitted participant commits an offence if—

(a)the individual enters into a regulated transaction of a description mentioned in paragraph 46(1) or (2) to which another party is not an authorised participant, and

(b)the individual knew or ought reasonably to have known of the matters mentioned in paragraph (a).

(2)A permitted participant that is not an individual commits an offence if—

(a)it enters into a regulated transaction of a description mentioned in paragraph 46(1) or (2) to which another party is not an authorised participant, and

(b)an officer of the permitted participant knew or ought reasonably to have known of the matters mentioned in paragraph (a).

(3)A person who is the responsible person in relation to a permitted participant that is not an individual commits an offence if—

(a)the permitted participant enters into a regulated transaction of a description mentioned in paragraph 46(1) or (2) to which another party is not an authorised participant, and

(b)the person knew or ought reasonably to have known of the matters mentioned in paragraph (a).

(4)An individual who is a permitted participant commits an offence if—

(a)the individual enters into a regulated transaction of a description mentioned in paragraph 46(1) or (2) to which another party is not an authorised participant,

(b)the individual neither knew nor ought reasonably to have known that the other party is not an authorised participant, and

(c)as soon as practicable after knowledge of the matters mentioned in paragraph (a) comes to the individual the individual fails to take all reasonable steps to repay any money which the individual has received by virtue of the transaction.

(5)A permitted participant that is not an individual commits an offence if—

(a)it enters into a regulated transaction of a description mentioned in paragraph 46(1) or (2) to which another party is not an authorised participant,

(b)no officer of the permitted participant knew or ought reasonably to have known that the other party is not an authorised participant, and

(c)as soon as practicable after knowledge of the matters mentioned in paragraph (a) comes to the responsible person the responsible person fails to take all reasonable steps to repay any money which the permitted participant has received by virtue of the transaction.

(6)A person who is the responsible person in relation to a permitted participant that is not an individual commits an offence if—

(a)the permitted participant enters into a regulated transaction of a description mentioned in paragraph 46(1) or (2) to which another party is not an authorised participant,

(b)sub-paragraph (3)(b) does not apply to the person, and

(c)as soon as practicable after knowledge of the matters mentioned in paragraph (a) comes to the person the person fails to take all reasonable steps to repay any money which the permitted participant has received by virtue of the transaction.

(7)An individual who is a permitted participant commits an offence if—

(a)the individual benefits from or falls to benefit in consequence of a connected transaction to which any of the parties is not an authorised participant, and

(b)the individual knew or ought reasonably to have known of the matters mentioned in paragraph (a).

(8)A permitted participant that is not an individual commits an offence if—

(a)it benefits from or falls to benefit in consequence of a connected transaction to which any of the parties is not an authorised participant, and

(b)an officer of the permitted participant knew or ought reasonably to have known of the matters mentioned in paragraph (a).

(9)A person who is the responsible person in relation to a permitted participant that is not an individual commits an offence if—

(a)the permitted participant benefits from or falls to benefit in consequence of a connected transaction to which any of the parties is not an authorised participant, and

(b)the person knew or ought reasonably to have known of the matters mentioned in paragraph (a).

(10)An individual who is a permitted participant commits an offence if—

(a)the individual is a party to a transaction of a description mentioned in paragraph 46(3)(a),

(b)the individual benefits from or falls to benefit in consequence of a connected transaction to which any of the parties is not an authorised participant,

(c)the individual neither knew nor ought reasonably to have known of the matters mentioned in paragraphs (a) and (b), and

(d)as soon as practicable after knowledge of the matters mentioned in paragraphs (a) and (b) comes to the individual the individual fails to take all reasonable steps to pay to any person who has provided the individual with any benefit in consequence of the connected transaction the value of the benefit.

(11)A permitted participant that is not an individual commits an offence if—

(a)it is a party to a transaction of a description mentioned in paragraph 46(3)(a),

(b)it benefits from or falls to benefit in consequence of a connected transaction to which any of the parties is not an authorised participant,

(c)no officer of the permitted participant knew or ought reasonably to have known of the matters mentioned in paragraphs (a) and (b), and

(d)as soon as practicable after knowledge of the matters mentioned in paragraphs (a) and (b) comes to the responsible person the responsible person fails to take all reasonable steps to pay to any person who has provided the permitted participant with any benefit in consequence of the connected transaction the value of the benefit.

(12)A person who is the responsible person in relation to a permitted participant that is not an individual commits an offence if—

(a)the permitted participant is a party to a transaction of a description mentioned in paragraph 46(3)(a),

(b)the permitted participant benefits from or falls to benefit in consequence of a connected transaction to which any of the parties is not an authorised participant,

(c)sub-paragraph (9)(b) does not apply to the person, and

(d)as soon as practicable after knowledge of the matters mentioned in paragraphs (a) and (b) comes to the person the person fails to take all reasonable steps to pay to any person who has provided the permitted participant with any benefit in consequence of the connected transaction the value of the benefit.

(13)A person commits an offence if the person—

(a)knowingly enters into, or

(b)knowingly does any act in furtherance of,

any arrangement which facilitates or is likely to facilitate, whether by means of concealment or disguise or otherwise, the participation by a permitted participant in a regulated transaction with a person other than an authorised participant.

(14)It is a defence for a person charged with an offence under sub-paragraph (3) to prove that the person took all reasonable steps to prevent the permitted participant entering into the transaction.

(15)It is a defence for a person charged with an offence under sub-paragraph (9) to prove that the person took all reasonable steps to prevent the permitted participant benefiting in consequence of the connected transaction.

(16)A reference to a permitted participant entering into a regulated transaction includes a reference to any circumstances in which the terms of a regulated transaction are varied so as to increase the amount of money to which the permitted participant is entitled in consequence of the transaction.

(17)A reference to a permitted participant entering into a transaction to which another party is not an authorised participant includes a reference to any circumstances in which another party to the transaction who is an authorised participant ceases (for whatever reason) to be an authorised participant.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources