This Act creates an offence for dishonestly failing to take reasonable steps to cancel a wrongful credit in an account you keep or have an interest in, and sets a maximum penalty of 10 years’ imprisonment on indictment.
Theft (Amendment) Act 1996 An Act to amend the Theft Act 1968 and the Theft Act 1978; and for connected purposes. Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After section 24 of the Theft Act 1968 insert— A person is guilty of an offence if— a wrongful credit has been made to an account kept by him or in respect of which he has any right or interest; he knows or believes that the credit is wrongful; and he dishonestly fails to take such steps as are reasonable in the circumstances to secure that the credit is cancelled. References to a credit are to a credit of an amount of money. A credit to an account is wrongful if it is the credit side of a money transfer obtained contrary to section 15A of this Act. A credit to an account is also wrongful to the extent that it derives from— theft; an offence under section 15A of this Act; blackmail; or stolen goods. In determining whether a credit to an account is wrongful, it is immaterial (in particular) whether the account is overdrawn before or after the credit is made. A person guilty of an offence under this section shall be liable on conviction on indictment to imprisonment for a term not exceeding ten years. Subsection (8) below applies for purposes of provisions of this Act relating to stolen goods (including subsection (4) above). References to stolen goods include money which is dishonestly withdrawn from an account to which a wrongful credit has been made, but only to the extent that the money derives from the credit. In this section “account” and “money” shall be construed in accordance with section 15B of this Act. This section applies to wrongful credits made on or after the day on which this Act is passed. In section 1(2) of the Criminal Justice Act 1993 (Group A offences for the purposes of the jurisdictional provisions) paragraph (a) (list of offences under the Theft Act 1968) shall be amended as follows. After the entry relating to section 22 insert— section 24A (retaining credits from dishonest sources, etc.); This Act may be cited as the Theft (Amendment) Act 1996. Subject to subsection (3), this Act extends to England and Wales only. An Order in Council under paragraph 1(1)(b) of Schedule 1 to the Northern Ireland Act 1974 (legislation for Northern Ireland in the interim period) which contains a statement that it is made only for purposes corresponding to the purposes of this Act— shall not be subject to paragraph 1(4) and (5) of that Schedule (affirmative resolution of both Houses of Parliament); but shall be subject to annulment by resolution of either House. Act wholly in force at Royal Assent 1993 c. 36. 1974 c. 28. S. 1 repealed (15.1.2007) by Fraud Act 2006 (c. 35), s. 15(1), Sch. 3; S.I. 2006/3200, art. 2 S. 3(2) repealed (15.1.2007) by Fraud Act 2006 (c. 35), s. 15(1), Sch. 3; S.I. 2006/3200, art. 2 S. 4 repealed (15.1.2007) by Fraud Act 2006 (c. 35), s. 15(1), Sch. 3; S.I. 2006/3200, art. 2