Financial Markets Act, 2012 (Act No. 19 of 2012)Chapter X : Market Abuse77. Definitions |
In this Chapter, unless the context indicates otherwise—
"claims officer"
[Definition deleted by section 290, item 56(a) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
"deal"
includes conveying or giving an instruction to deal;
"executive director"
means a person appointed as such in terms of section 85(12);
"inside information"
means specific or precise information, which has not been made public and which—
| (a) | is obtained or learned as an insider; and |
| (b) | if it were made public, would be likely to have a material effect on the price or value of any security listed on a regulated market or of any derivative instrument related to such a security; |
[Definition substituted by section 290, item 56(b) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
"insider"
means a person who has inside information—
| (a) | through— |
| (i) | being a director, employee or shareholder of an issuer of securities listed on a regulated market or an issuer of derivative instruments related to such securities to which the inside information relates; or |
| (ii) | having access to such information by virtue of employment, office or profession; or |
| (b) | where such person knows that the direct or indirect source of the information was a person contemplated in paragraph (a); |
[Definition substituted by section 290, item 56(c) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
"market abuse rules"
means the rules made under section 84(2)(f);
"market corner"
means any arrangement, agreement, commitment or understanding involving the purchasing, selling or issuing of securities listed on a regulated market—
| (a) | by which a person, or a group of persons acting in concert, acquires direct or indirect beneficial ownership of, or exercises control over, or is able to influence the price of, securities listed on a regulated market; and |
| (b) | where the effect of the arrangement, agreement, commitment or understanding is or is likely to be that the trading price of the securities listed on a regulated market, as reflected through the facilities of a regulated market, is or is likely to be abnormally influenced or dictated by such person or group of persons in that the said trading price deviates or is likely to deviate from the trading price which would otherwise likely have been reflected through the facilities of the regulated market on which the particular securities are traded; |
"person"
includes a partnership and any trust; and
"regulated market"
means any market, domestic or foreign, which is regulated in terms of the laws of the country in which the market conducts business as a market for dealing in securities listed on that market.