Financial Markets Control Act, 1989 (Act No. 55 of 1989)20. False Trading and Market Manipulation |
No person shall —
| (a) | create, or cause to be created, or do anything that is calculated to create, a false or misleading appearance of active dealing in financial instruments on a financial market, or a false or misleading appearance with respect to the market for, or the price for dealing in, financial instruments on a financial market; |
| (b) | whether directly or indirectly, participate in a dealing in a financial instrument on a financial market which is intended to have the effect of — |
| (i) | creating an artificial price for dealing in financial instruments on a financial market; or |
| (ii) | maintaining at a level that is artificial a price for dealing in financial instruments on a financial market; or |
| (c) | by means of any fictitious or artificial transaction or device maintain, inflate or depress, or cause fluctuations in, the price for dealing in financial instruments on a financial market. |