Section 134 Investments and Securities Act

Section 134 of the Investments and Securities Act 2025 is about Fraudulently inducing persons to deal in securities. It is under Part XI (Trading in Securities) of the Act. It provides as follows:

(1) A person shall not —
(a) make or publish any statement, promise or forecast which is misleading, false or deceptive;

(b) dishonestly conceals material facts with the intent to induce another person to deal in securities;
(c) record, create or store in any way, information which is false or misleading with the intent to induce another person to deal in securities; or
(d) make any untrue statement or omit to state a material fact with the intent to conceal a misleading statement.

(2) It is a defense to any liability under section 133 and subsection (1) if it is established that, at the time when the person made, published, recorded or stored the information or material facts, he had no reasonable grounds to believe that the information was false, misleading or may be available to any other person.