(1) For the purposes of this Part, a person is precluded on a particular day
from dealing in a futures contract concerning a body corporate if, by virtue
of being, or having been at any time during the 6 months ending on that day,
connected with the body, the person has inside information in relation to that
futures contract.
(2) For the purposes of this Part, a person is also precluded on a particular
day from dealing in a futures contract concerning a body corporate if, by
virtue of being, or having been at any time during the 6 months ending on that
day, connected with another body corporate, the person has information that:
- (a)
- is inside information in relation to that futures contract; and
- (b)
- relates to any transaction (actual or expected) involving both those
bodies, or involving one of them and securities of the other.
(3) For the purposes of this Part, a person is also precluded from dealing in
a futures contract if the person:
- (a)
- has inside information in relation to
the futures contract; and
- (b)
- obtained the information, directly or indirectly, from another person; and
- (c)
- is aware, or ought reasonably to be aware, of facts or circumstances by
virtue of which that other person is precluded by subsection (1) or (2)
from dealing in the futures contract; and
- (d)
- when the information was so obtained:
- (i)
- was an associate of the other person; or
- (ii)
- had with the other person an arrangement for the communication of
information of a kind referred to in subsection (1) or (2) with a view to
a dealing, by the first-mentioned person, by the other person, or by both of
them together, in that futures contract or a futures contract of the same kind
as that futures contract.