Section 114: Market rigging
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.
114. Market rigging
(1) No person shall engage in, or carry out, directly or indirectly a transaction that, by itself or in conjunction with another transaction, creates or
sustains, or is likely to create or sustain, an artificial price for securities on a
securities exchange in Mauritius.
(2) No person shall enter into, or carry out, a fictitious or artificial transaction or device that affects the price of securities on a securities market in
Mauritius.
(3) It shall be a defence to a prosecution for an offence under subsection (1) where the defendant proves that he did not know, and could not reasonably have known, that the transaction has the effect, or is likely to have
the effect, mentioned in subsection (1).
(4) Subject to the conditions that may be specified in FSC Rules, the fixing and stabilising of the market price of a security by an investment dealer
during an underwriting in accordance with the rules of the exchange and the
FSC Rules shall not be an offence under this section.
S7 – 45 [Issue 1]
Securities Act