Section 113: False trading in securities
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
113. False trading in securities
(1) No person shall do or omit to do anything, that has the effect, or is
likely to have the effect, of creating a false or misleading appearance on a
securities exchange—
(a) of active trading in securities;
(b) in relation to the market for securities; or
(c) in relation to the price of securities.
(2) Without prejudice to subsection (1), a false or misleading appearance
of active trading in securities is created where a person carries out or offers
to carry out, directly or indirectly, a sale or purchase of securities that does
not involve a change in the beneficial ownership of the securities.
(3) For the purposes of subsection (2), where a person, taken together
with any one of his associates,
(a) had an interest in the securities before the transaction; and
(b) has substantially the same interest in the securities after the
transaction,
the sale or purchase does not involve a change in his beneficial ownership.
(4) It shall be a defence to a prosecution for an offence under this section where it is established that the person charged did not know, and could
not reasonably have known, that the relevant act or omission has the effect,
or is likely to have the effect, mentioned in subsection (1).