C1Part V INSIDER DEALING
Interpretation
55“Dealing” in securities.
1
For the purposes of this Part, a person deals in securities if—
a
he acquires or disposes of the securities (whether as principal or agent); or
b
he procures, directly or indirectly, an acquisition or disposal of the securities by any other person.
2
For the purposes of this Part, “acquire”, in relation to a security, includes—
a
agreeing to acquire the security; and
b
entering into a contract which creates the security.
3
For the purposes of this Part, “dispose”, in relation to a security, includes—
a
agreeing to dispose of the security; and
b
bringing to an end a contract which created the security.
4
For the purposes of subsection (1), a person procures an acquisition or disposal of a security if the security is acquired or disposed of by a person who is—
a
his agent,
b
his nominee, or
c
a person who is acting at his direction,
in relation to the acquisition or disposal.
5
Subsection (4) is not exhaustive as to the circumstances in which one person may be regarded as procuring an acquisition or disposal of securities by another.
Pt. V (ss. 52-64) applied (E.W.N.I) (1.12.2001) by 2000 c. 8, s. 402(1)(a); S.I. 2001/3538, art. 2(1)