http://www.legislation.gov.uk/ukpga/2012/21/section/89/2017-03-01Financial Services Act 2012An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.texttext/xmlenStatute Law Database2026-08-12Expert Participation2017-03-01 Financial Services Act 2012ActWater Act 2014s. 79(4)s. 94(3)Financial Services Act 2012ActWater Act 2014s. 81(10)s. 94(3) PART 7 891Subsection (2) applies to a person (“P”) who—amakes a statement which P knows to be false or misleading in a material respect,bmakes a statement which is false or misleading in a material respect, being reckless as to whether it is, orcdishonestly conceals any material facts whether in connection with a statement made by P or otherwise.2P commits an offence if P makes the statement or conceals the facts with the intention of inducing, or is reckless as to whether making it or concealing them may induce, another person (whether or not the person to whom the statement is made)—ato enter into or offer to enter into, or to refrain from entering or offering to enter into, a relevant agreement, orbto exercise, or refrain from exercising, any rights conferred by a relevant investment.3In proceedings for an offence under subsection (2) brought against a person to whom that subsection applies as a result of paragraph (a) of subsection (1), it is a defence for the person charged (“D”) to show that the statement was made in conformity with—aprice stabilising rules,bcontrol of information rules, orcthe relevant provisions of Article 5 (exemption for buy-back programmes and stabilisation) of the market abuse regulation.4Subsections (1) and (2) do not apply unless—athe statement is made in or from, or the facts are concealed in or from, the United Kingdom or arrangements are made in or from the United Kingdom for the statement to be made or the facts to be concealed,bthe person on whom the inducement is intended to or may have effect is in the United Kingdom, orcthe agreement is or would be entered into or the rights are or would be exercised in the United Kingdom.S. 89 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.S. 89(3)(c) substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 15(2)