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Questions and Answers
Which of the following is a method of committing fraud as defined in the Fraud Act 2006?
Which of the following is a method of committing fraud as defined in the Fraud Act 2006?
- Fraud by honest mistake
- Fraud by false representation (correct)
- Fraud by misunderstanding
- Fraud by omission of facts
What does the term 'gain' refer to in the context of fraud as per the Fraud Act 2006?
What does the term 'gain' refer to in the context of fraud as per the Fraud Act 2006?
- An increase in monetary value
- A loss incurred from criminal activity
- A profit made from a legal transaction
- Any advantage gained through fraudulent means (correct)
Which offence has been abolished by the Fraud Act 2006?
Which offence has been abolished by the Fraud Act 2006?
- Obtaining property by deception (correct)
- Fraud by false accounting
- Fraud by forgery
- Stealing under false pretenses
Under the Fraud Act 2006, officers of a company can be held liable for which of the following?
Under the Fraud Act 2006, officers of a company can be held liable for which of the following?
Obtaining services dishonestly is categorized under which section in the Fraud Act 2006?
Obtaining services dishonestly is categorized under which section in the Fraud Act 2006?
Which of the following is NOT included in the terms of 'articles for use in frauds' under the Fraud Act 2006?
Which of the following is NOT included in the terms of 'articles for use in frauds' under the Fraud Act 2006?
What key concept does the Fraud Act 2006 introduce regarding the liability of company officers?
What key concept does the Fraud Act 2006 introduce regarding the liability of company officers?
What does 'loss' refer to in the context of the Fraud Act 2006?
What does 'loss' refer to in the context of the Fraud Act 2006?
Which individuals or entities fall under the reach of Section 458 of the 1985 Act?
Which individuals or entities fall under the reach of Section 458 of the 1985 Act?
What is the maximum penalty on summary conviction for an offence under Section 458 of the 1985 Act?
What is the maximum penalty on summary conviction for an offence under Section 458 of the 1985 Act?
What does 'fraudulent purpose' refer to in the context of Section 458 and Article 451?
What does 'fraudulent purpose' refer to in the context of Section 458 and Article 451?
What is a condition for obtaining services under the dishonest act provision?
What is a condition for obtaining services under the dishonest act provision?
What change did Schedule 24 to the Companies Act 1985 implement regarding the punishment for offences under Section 458?
What change did Schedule 24 to the Companies Act 1985 implement regarding the punishment for offences under Section 458?
In which situation is a person guilty of an offence under the obtaining services dishonestly provision?
In which situation is a person guilty of an offence under the obtaining services dishonestly provision?
In which case does Section 458's definition apply to a person?
In which case does Section 458's definition apply to a person?
What does Article 451 of the 1986 Order specifically encompass?
What does Article 451 of the 1986 Order specifically encompass?
What is the maximum term of imprisonment on summary conviction for an offence under this Section?
What is the maximum term of imprisonment on summary conviction for an offence under this Section?
If an offence is committed by a body corporate, who can also be liable for the offence?
If an offence is committed by a body corporate, who can also be liable for the offence?
What rights does a person have when answering questions in proceedings relating to property?
What rights does a person have when answering questions in proceedings relating to property?
What is considered a 'related offence' under the Act?
What is considered a 'related offence' under the Act?
If a body corporate's affairs are managed by its members, how does subsection (2) apply?
If a body corporate's affairs are managed by its members, how does subsection (2) apply?
Which of the following is NOT covered under 'property' in proceedings?
Which of the following is NOT covered under 'property' in proceedings?
What is the maximum fine on conviction on indictment for an offence under this Section?
What is the maximum fine on conviction on indictment for an offence under this Section?
What must be proven for an offence to be attributed to a director of a body corporate?
What must be proven for an offence to be attributed to a director of a body corporate?
What is the definition of 'wrongful credit' according to Section 24A?
What is the definition of 'wrongful credit' according to Section 24A?
According to the amendments, what replaces 'in the circumstances described in Section 15(1)' in Section 24(4)?
According to the amendments, what replaces 'in the circumstances described in Section 15(1)' in Section 24(4)?
Which of the following is included in the definition of 'articles' for Sections 6 and 7?
Which of the following is included in the definition of 'articles' for Sections 6 and 7?
Under what circumstance can a person be guilty of an offence regarding a business as stated in Section 9?
Under what circumstance can a person be guilty of an offence regarding a business as stated in Section 9?
What does Subsection (2A) specify regarding the source of wrongful credits?
What does Subsection (2A) specify regarding the source of wrongful credits?
What does subsection (1) of Section 8 specify about the term 'article'?
What does subsection (1) of Section 8 specify about the term 'article'?
Which of the following best captures the intent behind Section 9?
Which of the following best captures the intent behind Section 9?
In the context of Section 24(4), how is fraud defined?
In the context of Section 24(4), how is fraud defined?
Study Notes
Fraud Act 2006
- The Fraud Act 2006 consolidated and modernized the law on fraud.
- The main changes were the abolishment of deception offences and the introduction of four new fraud offences.
Fraud Offences
- Fraud by false representation: obtaining a gain or causing a loss by a false representation.
- Fraud by failing to disclose information: obtaining a gain or causing a loss by failing to disclose information.
- Fraud by abuse of position: obtaining a gain or causing a loss by abusing one’s position.
- Possession etc. of articles for use in frauds: possessing articles for use in committing a fraud.
- Making or supplying articles for use in frauds: making or supplying articles for use in committing a fraud.
Obtaining Services Dishonestly
- Obtaining services dishonestly: obtaining services without payment.
- Obtaining services dishonestly is a separate offence from fraud.
Liability of Company Officers
- Company officers can be held liable for fraud offences committed by their company.
- This applies if the offence was committed with the consent or connivance of the officer.
Evidence
- A person cannot refuse to answer questions about property on the grounds that it may incriminate them.
- However, any statements made while answering questions about property are not admissible as evidence against them.
Abolition of Deception Offences
- The Fraud Act 2006 abolished the following deception offences:
- Obtaining property by deception
- Obtaining a money transfer by deception
- Obtaining pecuniary advantage by deception
- Procuring the execution of a valuable security by deception
- Obtaining services by deception
- Evasion of liability by deception
Commencement
- The Fraud Act 2006 came into force on January 31, 2007.
Extent
- The Fraud Act 2006 applies to England and Wales, Scotland, and Northern Ireland.
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Description
Explore the key aspects of the Fraud Act 2006, which modernized fraud law by introducing four new offences. Learn about various types of fraud, including false representation, failure to disclose information, and abuse of position. This quiz also covers the liabilities of company officers under the Act.
