Division 1 — Establishment of Organised Markets
Division 2 — Regulation of Approved Exchanges
Subdivision 1 Obligations of approved exchanges
Subdivision 2 Rules of approved exchanges
Subdivision 3 Matters requiring approval of Authority
Subdivision 4 Immunity
Division 3 — Regulation of Recognised Market Operators
Division 4 — General Powers of Authority
Division 5 — Voluntary Transfer of Business of Approved Exchange or Recognised Market Operator
Division 1 — Licensing of Trade Repositories
Division 2 — Regulation of Licensed Trade Repositories
Subdivision 1 Obligations of licensed trade repositories
Subdivision 2 Rules of licensed trade repositories
Subdivision 3 Matters requiring approval of Authority
Subdivision 4 Powers of Authority
Subdivision 5 Immunity
Division 3 — Regulation of Licensed Foreign Trade Repositories
Division 4 — General Powers of Authority
Division 5 — Voluntary Transfer of Business of Licensed Trade Repository or Licensed Foreign Trade Repository
Division 1 — Establishment of Clearing Facilities
Division 2 — Regulation of Approved Clearing Houses
Subdivision 1 Obligations of approved clearing houses
Subdivision 2 Rules of approved clearing houses
Subdivision 3 Matters requiring approval of Authority
Subdivision 4 Immunity
Division 3 — Regulation of Recognised Clearing Houses
Division 4 — Insolvency
Division 5 — General Powers of Authority
Division 6 — Voluntary Transfer of Business of Approved Clearing House or Recognised Clearing House
Division 1 — Establishment of Approved Holding Companies
Division 2 — Regulation of Approved Holding Companies
Division 3 — Voluntary Transfer of Business of Approved Holding Company
Division 1 — Capital Markets Services Licence
Division 1A — Voluntary Transfer of Business of Holder of Capital Markets Services Licence
Division 2 — Representatives
Division 3 — General
Division 1 — Books
Division 2 — Customer Assets
Division 3 — Audit
Division 1 — General
Division 1 — Designation of Financial Benchmarks
Division 2 — Benchmark Administrators of Designated Benchmarks
Subdivision 1 Authorised benchmark administrator
Subdivision 2 Exempt benchmark administrator
Subdivision 3 Code on designated benchmark
Subdivision 4 Obligations of authorised benchmark administrators and exempt benchmark administrators
Subdivision 5 Matters requiring approval of Authority
Division 3 — Benchmark Submitters of Designated Benchmarks
Subdivision 1 Authorised benchmark submitter
Subdivision 2 Exempt benchmark submitter
Subdivision 3 Designated benchmark submitter
Subdivision 4 Obligations of authorised benchmark submitters, exempt benchmark submitters and designated benchmark submitters
Subdivision 5 Matters requiring approval of Authority
Division 4 — Information Gathering Powers over Financial Benchmarks, Disclosure of Information and Record Keeping
Division 5 — General Powers
Division 1 — Disclosure of Interest in Corporation
Subdivision 1 Disclosure by directors and chief executive officer of corporation
Subdivision 2 Disclosure by substantial shareholders in corporation
Subdivision 3 Disclosure by corporation
Division 2 — Disclosure of Interest in Business Trust and Interest in Trustee‑Manager of Business Trust
Subdivision 1 Disclosure by substantial unitholders of business trust
Subdivision 2 Disclosure by directors and chief executive officer of trustee‑manager of business trust
Subdivision 3 Disclosure by holders of voting shares in trustee‑manager
Subdivision 4 Disclosure by trustee‑manager
Division 3 — Disclosure of Interests in Real Estate Investment Trust and Interests in Shares of Responsible Person
Subdivision 1 Disclosure by substantial unitholders of real estate investment trust
Subdivision 2 Disclosure by directors and chief executive officer of responsible person
Subdivision 3 Disclosure by holders of voting shares in responsible person
Subdivision 4 Disclosure by responsible person
Division 4 — Civil Penalty
Division 1 — Supervisory Powers
Subdivision 1 Powers of Authority to require disclosure of information about capital markets products
Subdivision 2 Inspection powers of Authority
Subdivision 3 Inspection powers of foreign regulatory authority
Division 2 — Power of Minister to Appoint Inspector for Investigating Dealings in Securities, etc.
Division 3 — Investigative Powers of Authority
Subdivision 1 Preliminary
Subdivision 2 General
Subdivision 3 Examination of persons
Subdivision 4 Powers to obtain information
Division 4 — Transfer of evidence
Division 1 — Prohibited Conduct — Capital Markets Products
Division 2 — Prohibited Conduct — Financial Benchmarks
Division 3 — Insider Trading
Division 4 — Civil Liability
Division 5 — Attributed Liability
Subdivision 1 Corporations
Subdivision 2 Partnerships and limited liability partnerships
Subdivision 3 Officers, partners, etc., of entities
Subdivision 4 General
Division 6 — Miscellaneous
Division 1 — Securities and Securities‑based Derivatives Contracts
Subdivision 1 Interpretation
Subdivision 1A Offers of units in and recognition of business trusts
Subdivision 2 Prospectus requirements
Subdivision 3 Debentures
Subdivision 4 Exemptions
Subdivision 5 General
Division 2 — Collective Investment Schemes
Subdivision 1 Interpretation
Subdivision 2 Authorisation and recognition
Subdivision 2A Voluntary transfer of business of approved trustee
Subdivision 3 Prospectus requirements
Subdivision 4 Exemptions
Division 3 — Hawking of Securities, Securities‑based Derivatives Contracts and Units in Collective Investment Scheme
Division 4 — Capital Markets Products
Division 3 — Insider Trading |
Application of this Division |
213. This Division applies to —
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Interpretation of this Division |
Information generally available |
215. For the purposes of this Division, information is generally available if —
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Material effect on price or value of securities, securities‑based derivatives contracts or CIS units |
216. For the purposes of this Division, a reasonable person would be taken to expect information to have a material effect on the price or value of securities, securities‑based derivatives contracts or CIS units, if the information would, or would be likely to, influence any of the following persons in deciding whether or not to subscribe for, buy or sell those securities, securities‑based derivatives contracts or CIS units:
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Trading and procuring trading in securities, securities‑based derivatives contracts or CIS units |
217.—(1) For the purposes of this Division, trading in any securities, securities‑based derivatives contracts or CIS units, that is ordinarily permitted on an organised market is taken to be permitted on that organised market even though trading in such securities, securities‑based derivatives contracts or CIS units (as the case may be) on that organised market is suspended. [4/2017]
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Prohibited conduct by connected person in possession of inside information |
218.—(1) Subject to this Division, where —
[4/2017]
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Prohibited conduct by other persons in possession of inside information |
219.—(1) Subject to this Division, where —
[4/2017]
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Not necessary to prove intention to use |
220.—(1) To avoid doubt, in any proceedings against a person for a contravention of section 218 or 219, it is not necessary for the prosecution or claimant to prove that the accused person or defendant intended to use the information referred to in section 218(1)(a) or (1A)(a) or 219(1)(a) in contravention of section 218 or 219, as the case may be. [Act 25 of 2021 wef 01/04/2022]
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Penalties under this Division |
221.—(1) A person who contravenes section 218 or 219, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 or to imprisonment for a term not exceeding 7 years or to both.
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Exception for redemption of units in collective investment scheme |
222. Sections 218(2) and 219(2) do not apply in respect of the redemption of units in a collective investment scheme by a trustee or manager under a trust deed relating to that collective investment scheme in accordance with a buy‑back covenant contained or deemed to be contained in the trust deed at a price that is required by the trust deed to be calculated, so far as is reasonably practicable, by reference to the underlying value of the assets less —
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Exception for underwriters |
223.—(1) Sections 218(2) and 219(2) do not apply in respect of —
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Exception for purchase pursuant to legal requirement |
224.—(1) Sections 218(2) and 219(2) do not apply in respect of the purchase of securities, securities‑based derivatives contracts or CIS units pursuant to a requirement imposed by the Government, a statutory body or any regulatory authority, or any requirement imposed under any written law or order of court. [4/2017]
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Exception for information communicated pursuant to legal requirement |
225. Sections 218(3) and 219(3) do not apply in respect of the communication of information pursuant to a requirement imposed by the Government, a statutory body or any regulatory authority, or any requirement imposed under any written law or order of court. |
Attribution of knowledge within corporations |
226.—(1) For the purposes of this Division —
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Attribution of knowledge within partnerships and limited liability partnerships |
227.—(1) For the purposes of this Division —
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Exception for knowledge of individual’s own intentions or activities |
228. An individual does not contravene section 218(2) or 219(2) by entering into a transaction or agreement in relation to securities, securities‑based derivatives contracts or CIS units merely because the individual is aware that the individual proposes to enter into, or has previously entered into, one or more transactions or agreements in relation to those securities, securities‑based derivatives contracts or CIS units. [4/2017] |
Exception for corporations and its officers, etc. |
229.—(1) A corporation does not contravene section 218(2) or 219(2) by entering into a transaction or agreement in relation to securities, securities‑based derivatives contracts or CIS units merely because the corporation is aware that it proposes to enter into or has previously entered into, one or more transactions or agreements in relation to those securities, securities‑based derivatives contracts or CIS units. [4/2017]
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Unsolicited transactions by holder of capital markets services licence and representatives |
230.—(1) The holder of a capital markets services licence to deal in capital markets products, or a representative of such a holder, does not contravene section 218(2) or 219(2) by subscribing for, purchasing or selling, or entering into an agreement to subscribe for, purchase or sell, securities, securities‑based derivatives contracts or CIS units if —
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Parity of information defences |
231.—(1) In any proceedings against a person for a contravention of section 218(2) or 219(2) because the person entered into, or procured another person to enter into, a transaction or agreement at a time when certain information was in the firstmentioned person’s possession, it is a defence if the court is satisfied that —
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Current Acts and Subsidiary Legislation | |
Current Acts | |
Current Subsidiary Legislation | |
All Collections | |
Acts Supplement | |
Bills Supplement | |
Subsidiary Legislation Supplement | |
Revised Editions of Acts | |
Revised Editions of Subsidiary Legislation |