Securities Services Act, 2004 (Act No. 36 of 2004)Chapter VIII : Market Abuse72. Definitions |
In this Chapter, unless the context indicates otherwise—
"claims officer" means the person appointed by the board to be responsible for considering and determining claims in terms of sections 77(8) and (9);
"deal" includes conveying or giving an instruction to deal;
"document" includes a book, record, security or account, and any information stored or recorded electronically, photographically, magnetically, mechanically, electro-mechanically or optically or in any other form;
"executive director" means a person appointed as such in terms of section 83( 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; |
"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 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); |
"market abuse rules" means the rules made under section 82(2)(g);
"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 arbitrarily dictated by such person or group of persons in that the said trading price deviates or is likely to deviate materially 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;
"public sector body" means—
| (a) | all spheres of the government of the Republic or of any other country or territory; |
| (b) | the South African Reserve Bank; or |
| (c) | the central bank of any country or territory outside the Republic, |
but does not include the Public Investment Commissioners established by section 2 of the Public Investment Commissioners Act, 1984 (Act No. 45 of 1984);
"regional court’’ means a court established for a regional division under the Magistrates’ Courts Act, 1944 (Act No. 32 of 1944);
"regulated market" means any market, whether 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.