• MAM-2.2 MAM-2.2 Prohibited Conduct of Permanent Insiders

    • MAM-2.2.1

      Without prejudice to rule MAM-2.1, where:

      (a) A person who is a Permanent Insider to a company possesses information concerning that company that is not disclosed widely enough; and
      (b) The Permanent Insider knows or ought reasonably to know that:
      (i) The information is not disclosed widely enough; and
      (ii) If it were disclosed widely enough, it might have a material effect on the price or value of those securities of that company;

      rules MAM-2.2.2, MAM-2.2.3 AND MAM-2.2.4 shall apply.

      November 2010

    • MAM-2.2.2

      The Permanent Insider must not (whether as principal or agent):

      (a) Subscribe for, purchase or sell, or enter into an agreement to subscribe for, purchase or sell, any such securities referred to in rule MAM-2.2.1; or
      (b) Procure another person to subscribe for, purchase or sell, or to enter into an agreement to subscribe for, purchase or sell, any such securities referred to in rule MAM-2.2.1.
      November 2010

    • MAM-2.2.3

      Where trading in the securities referred to in rule MAM-2.2.1 is permitted on the securities market of a licensed exchange, the Permanent Insider must not, directly or indirectly, communicate the information, or cause the information to be communicated to another person if the Permanent Insider knows, or ought reasonably to know, that the other person would or would be likely to:

      (a) Subscribe for, purchase or sell, or enter into an agreement to subscribe for, purchase or sell, any such securities; or
      (b) Procure a third person to subscribe for, purchase or sell, or to enter into an agreement to subscribe for, purchase or sell, any such securities.
      November 2010

    • MAM-2.2.4

      In any proceedings for a contravention of rules MAM-2.2.2 and MAM-2.2.3 against a Permanent Insider to a company referred to in rules MAM-2.2.1, MAM-2.2.2 and MAM-2.2.3, where the prosecution or plaintiff proves that the Permanent Insider was at the material time:

      (a) In possession of information concerning the company to which he was connected; and
      (b) The information was not disclosed widely enough;
      it shall be presumed, until the contrary is proved that the permanent insider knew at the material time that:
      (i) The information was not disclosed widely enough; and
      (ii) If the information were disclosed widely enough, it might have a material effect on the price or value of securities of that company.
      November 2010