Section 159: Prohibition of misleading names and acts.

(1) No person may, unless registered as a manager under this Act, include in or have as part of the name of its business or in any description of his business any reference to a collective investment scheme, open ended investment company, unit trust or real estate investment and no person who is not registered as a manager or trustee or custodian under this Act may perform any act calculated to lead the public to believe that any business carried on by such person consists of or is connected with the administration of a collective investment scheme.
(2) Any person who contravenes the provision of this section is liable to a fine of not less than N100,000 and a further sum of N5,000 per day during which the contravention continues.