§ Lady Saltoun of Abernethyasked Her Majesty's Government:
Whether they have any plans to introduce legislation to prohibit "pyramid schemes". [HL4109]
§ The Parliamentary Under-Secretary of State, Department for Culture, Media and Sport (Lord McIntosh of Haringey)Information about the Government'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.