Section 138: False statements to securities exchanges, CDS, or SRO

138. False statements to securities exchanges, CDS, or SRO (1) No person shall make a statement or give information to an SRO, a securities exchange or a clearing and settlement facility, being a statement or information that the person is required to give under this Act, any regulations made under this Act, any FSC Rules or SRO Rules, or rules of a securities ex- [Issue 3] S7 – 50 Revised Laws of Mauritius change or a clearing and settlement facility, as applicable, where the person knows or ought reasonably to have known that the statement or information is false or misleading. (2) No person shall omit to state any matter, in or in connection with any application to an SRO, a securities exchange or a clearing and settlement facility, being a matter required by this Act, any regulations made under this Act, any FSC Rules or SRO Rules, or rules of a securities exchange or clearing and settlement facility, as may be applicable, where the person knows or ought reasonably to have known that, because of the omission, the application is misleading in a material respect. (3) Any person who contravenes this section shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500,000 rupees and to imprisonment for a term not exceeding 5 years.