Pyramid Scheme means: A multi layered network of subscribers to a scheme formed of subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly as a result of enrollment action or performance of additional subscribers to the scheme. The subscribers enrolling further subscriber(S) occupy higher position and the enrolled subscriber(s) lower position, thus with successive enrolments, they form multi-layered network of subscribers. Provided that the above definition of a “Pyramid Scheme” shall not apply to a multi layered network of subscribers to a scheme by a direct selling Entity. Which consists of subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly, where the benefit is as a result of sale of goods or services by subscribers and the scheme /financial arrangement complies with all of the following:
Pyramid Scheme means: A multi-layered network of subscribers to a scheme formed by subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly, as a result of enrollment, action or performance of additional subscribers to the scheme. The subscribers enrolling further subscriber(s) occupy higher position and the enrolled subscriber(s) lower position, thus, with successive enrollments, they form multi-layered network of subscribers:
Pyramid Scheme means a multi layered network of subscribers to a scheme formed by subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly, as a result of enrolment or action or performance of additional subscribers to the scheme, in which the subscribers enrolling further subscribers occupy a higher position and the enrolled subscribers a lower position, resulting in a multi-layered network of subscribers with successive enrolments and the scheme / financial arrangement complies with all of the following:
Examples of Pyramid Scheme in a sentence
Company does not promote a Pyramid Scheme or Money Circulation Scheme.
The DOD, represents and warrants that, inconnection withthe DOD Contract or the business resulting therefrom, it is knowledgeable about Anti -Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and the Direct Sales and Anti -Pyramid Scheme Act 1993 applicable to the performance of the DOD Contract and will comply with all such laws.
More Definitions of Pyramid Scheme
Pyramid Scheme means any scheme or arrangement whatsoever which has either or both the following characteristics—
Pyramid Scheme means a scheme for the supply of goods, services or financial benefit where-
Pyramid Scheme means any scheme, arrangement, plan, operation or chain process having all or any of the features specified in the Schedule.
Pyramid Scheme means a multi layered network of subscribers to a scheme formed by subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly, as a result of enrolment, action or performance of
Pyramid Scheme means any sales device or plan under which a person gives consideration to another person in exchange for compensation or the right to receive compensation which is derived primarily from the introduction of other persons into the sales device or plan rather than from the sale of goods, services, or other property.
Pyramid Scheme means a business enterprise characterized by the payment of money by participants in return for which they receive the right to sell products and recruit participants and the right to receive rewards that are primarily driven
Pyramid Scheme means: A multi layered network of subscribers to a scheme formed of subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly as a result of enrollment action or performance of additional subscribers to the scheme. The subscribers enrolling further subscriber(S) occupy higher position and the enrolled subscriber(s) low er position, thus w ith successive enrolments, they form multi-layered network of subscribers. Provided that the above definition of a ―Pyramid Scheme‖ shall not apply to a multi layered network of subscribers to a scheme by a direct selling Entity. Which consists of subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly, where the benefit is as a result of sale of goods or services by subscribers and the scheme /financial arrangement complies w ith all of the follow ing: