Securities Markets Act 1988

  • repealed
  • Securities Markets Act 1988: repealed, on 1 December 2014, by section 4(1)(b) of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
  • Previous title has changed

Market manipulation

  • Heading: inserted, on 29 February 2008, by section 5 of the Securities Markets Amendment Act 2006 (2006 No 47).

11 False or misleading statement or information
  • A person must not make a statement or disseminate information if—

    • (a) a material aspect of the statement or information is false or the statement or information is materially misleading; and

    • (b) the person knows or ought reasonably to know that a material aspect of the statement or information is false or that the statement or information is materially misleading; and

    • (c) the statement or information is likely to—

      • (i) induce a person to trade in the securities of a public issuer; or

      • (ii) have the effect of increasing, reducing, maintaining, or stabilising the price for trading in those securities; or

      • (iii) induce a person to vote for, or vote against, a transaction, or to abstain from voting in respect of that transaction.

    Section 11: substituted, on 29 February 2008, by section 5 of the Securities Markets Amendment Act 2006 (2006 No 47).