It provides that a person found guilty of fraud was liable to a fine or imprisonment for up to twelve months on summary conviction (six months in Northern Ireland), or a fine or imprisonment for up to ten years on conviction on indictment.
These offences attracted much criticism for their complexity and difficulty in proving at court.
[citation needed] Much of the Theft Act 1978 has been repealed, but the offence of making off without payment, defined under section 3 has not been affected.
A person found guilty of this will be liable to a fine or imprisonment for up to twelve months on summary conviction (six months in Northern Ireland), or a fine or imprisonment for up to five years on conviction on indictment.
In regard to the fraudulent behaviour of companies, the existing offence of participating in fraudulent business carried on by a company, provided for by the Companies Act 1985, was amended by Section 10 - bringing the maximum penalty from 10 years imprisonment to 15 years [and/or a fine] - and a new offence of participating in fraudulent business carried on by a sole trader was established by Section 9.