The Insider Dealing (Securities and Regulated Markets) Order 1994

Title, commencement and interpretation U.K.

1.  This Order may be cited as the Insider Dealing (Securities and Regulated Markets) Order 1994 and shall come into force on the twenty eighth day after the day on which it is made.

Commencement Information

I1 Art. 1 in force at 1.3.1994, see art. 1

2.  In this Order a “State within the European Economic Area” means a State whichis a member of the European Communities and the Republics of Austria, Finland and Iceland, the Kingdoms of Norway and Sweden and the Principality of Liechtenstein.

Commencement Information

I2 Art. 2 in force at 1.3.1994, see art. 1

Securities U.K.

3.  Articles 4 to 8 set out conditions for the purposes of section 54(1) of the Criminal Justice Act 1993 (securities to which Part V of the Act of 1993 applies).

Commencement Information

I3 Art. 3 in force at 1.3.1994, see art. 1

4.  The following condition applies in relation to any security which falls within any paragraph of Schedule 2 to the Act of 1993, that is, that it is officially listed in a State within the European Economic Area or that it is admitted to dealing on, or has its price quoted on or under the rules of, a regulated market.

Commencement Information

I4 Art. 4 in force at 1.3.1994, see art. 1

5.  The following alternative condition applies in relation to a warrant, that is, that the right under it is a right to subscribe for any share or debt security of the same class as a share or debt security which satisfies the condition in article 4.

Commencement Information

I5 Art. 5 in force at 1.3.1994, see art. 1

6.  The following alternative condition applies in relation to a depositary receipt, that is, that the rights under it are in respect of any share or debt security which satisfies the condition in article 4.

Commencement Information

I6 Art. 6 in force at 1.3.1994, see art. 1

7.  The following alternative conditions apply in relation to an option or a future, that is, that the option or rights under the future are in respect of—

(a) any share or debt security which satisfies the condition in article 4, or

(b) any depositary receipt which satisfies the condition in article 4 or article 6.

Commencement Information

I7 Art. 7 in force at 1.3.1994, see art. 1

8.  The following alternative condition applies in relation to a contract for differences, that is, that the purpose or pretended purpose of the contract is to secure a profit or avoid a loss by reference to fluctuations in—

(a) the price of any shares or debt securities which satisfy the condition in article 4, or

(b) an index of the price of such shares or debt securities.

Commencement Information

I8 Art. 8 in force at 1.3.1994, see art. 1

Regulated markets U.K.

9.  The following markets are regulated markets for the purposes of Part V of the Act of 1993—

[F1 (a)] any market which is established under the rules of an investment exchange specified in the Schedule to this Order.

[F2 (b) the market known as OFEX, operated by J. P. Jenkins Limited.]

Textual Amendments

F1 Words in art. 9 renumbered as art. 9(a) (20.7.2000) by The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 2000 (S.I. 2000/1923), arts. 1, 2(2)

F2 Art. 9(b) inserted (20.7.2000) by The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 2000 (S.I. 2000/1923), arts. 1, 2(2)

Commencement Information

I9 Art. 9 in force at 1.3.1994, see art. 1

United Kingdom regulated markets U.K.

10.  The regulated markets which are regulated in the United Kingdom for the purposes of Part V of the Act of 1993 are any market which is established under the rules of—

[F3 (a) the London Stock Exchange Limited;]

(b) LIFFE Administration & Management; F4 ...

(c) OMLX, the London Securities and Derivatives Exchange Limited [F5 ;F6 ...

(d) Tradepoint Financial Networks plc;]

[F7 (e) COREDEAL Limited;

together with the market known as OFEX, operated by J. P. Jenkins Limited.]

Textual Amendments

F3 Art. 10(a) substituted (1.7.1996) by The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 1996 (S.I. 1996/1561), arts. 1, 3(1)

F4 Word in art. 10(b) omitted (1.7.1996) by virtue of The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 1996 (S.I. 1996/1561), arts. 1, 3(2)

F5 Art. 10(d) and word inserted (1.7.1996) by The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 1996 (S.I. 1996/1561), arts. 1, 3(2)

F6 Word in art. 10(c) omitted (20.7.2000) by virtue of The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 2000 (S.I. 2000/1923), arts. 1, 2(3)

F7 Art. 10(e) and words inserted (20.7.2000) by The Insider Dealing (Securities and Regulated Markets) (Amendment) Order 2000 (S.I. 2000/1923), arts. 1, 2(3)

Commencement Information

I10 Art. 10 in force at 1.3.1994, see art. 1

Tim Wood

Irvine Patnick

Two of the Lords Commissioners of Her Majesty’s Treasury.