"Pyramid" Schemes

House of Lords written question – answered on 8th September 2003.

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Photo of Lady Saltoun of Abernethy Lady Saltoun of Abernethy Crossbench

asked Her Majesty's Government:

Whether they have any plans to introduce legislation to prohibit "pyramid schemes".

Photo of Lord McIntosh of Haringey Lord McIntosh of Haringey Parliamentary Under-Secretary, Department for Culture, Media & Sport, Parliamentary Under-Secretary (Department for Culture, Media and Sport) (Media and Heritage)

Information about the Goverment's plans to act against so-called "chain gifting" or "pyramid" schemes in the Gambling Bill is contained in the statement about the law on prize competitions and lotteries that was placed in the Library on 19 June 2003.

Bogus trading schemes, which may also operate as "pyramids", are prohibited by Part XI of the Fair Trading Act 1973, as amended by the Trading Schemes Act 1996 and the Trading Schemes Regulations 1997.

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