Criminal Law Code as at 1st March 2007 (3) If it is proved, in any prosecution for corruptly concealing a transaction from a principal, that⎯ (a) an agent⎯ (i) agreed or arranged with another person that the full nature of any transaction should not be disclosed to the agent’s principal; or (ii) failed to disclose to his or her principal the full nature of any transaction; the agent shall be presumed, unless the contrary is proved, to have done so intending to deceive the principal, or to obtain a consideration for himself or herself knowing or realising that there is a real risk or possibility that such consideration is not due to him or her in terms of any agreement or arrangement between himself or herself and the principal, as the case may be; (b) any person agreed or arranged with an agent that the full nature of any transaction should not be disclosed to the agent’s principal, that person shall be presumed, unless the contrary is proved, to have done so intending to deceive the agent’s principal; (c) any person carried out a transaction with an agent or assisted an agent to carry out a transaction the full nature of which was not disclosed to the agent’s principal, that person shall be presumed, unless the contrary is proved, to have known that the agent did not intend to disclose to the principal the full nature of the transaction. 173 Corruptly concealing from a principal a personal interest in a transaction (1) Any⎯ (a) agent who carries out any transaction in connection with his or her principal’s affairs or business without disclosing to the principal that he or she holds a personal interest in the subject-matter of the transaction⎯ (i) intending to deceive the principal or realising that there is a real risk or possibility that the principal may be deceived; or (ii) intending to obtain a consideration knowing or realising that there is a real risk or possibility that such consideration is not due to him or her in terms of any agreement or arrangement between himself or herself and the principal; or (b) person who⎯ (i) carries out any transaction with an agent in connection with the affairs or business of the agent’s principal; or (ii) assists an agent to carry out any such transaction; knowing that the agent does not intend to disclose to the principal a personal interest which he or she or the agent holds in the subject-matter of the transaction; shall be guilty of corruptly concealing from a principal a personal interest in a transaction and liable to a fine up to or exceeding level fourteen or imprisonment for a period not exceeding twenty years or both. (2) Where an agent agrees or arranges with another person or a person agrees or arranges with the agent not to disclose to the agent’s principal any personal interest held by the agent in the subject-matter of any transaction which the agent has carried out or will carry out in - 99 -