48. Defences for market manipulation, insider dealing and providing inside information

Past version: effective up to 01/05/2010
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(1) A person shall not be found to have contravened Article 36 if the person establishes that the conduct or practice the person engaged in was in the performance of, and in accordance with, the price stabilisation requirements as prescribed in the Rules.
(2) A person shall not be found to have contravened Articles 42 or 43 if:
(a) the person establishes that the information was disclosed in accordance with any requirements under law;
(b) the person establishes that he reasonably believed that the material information had been disclosed to the market in accordance with this Law or the Rules;
(c) the information is given in the necessary course of business;
(d) the sole purpose of acquiring shares was to satisfy the requirement for his being qualified as a director or intending to become a director of a Reporting Entity;
(e) the dealing in Investments occurred in the performance of an underwriting agreement for the Investments in question; or
(f) the dealing in Investments occurred in the performance of its functions as a liquidator or receiver.