Insider Trading Act, 1998 (Act No. 135 of 1998)

1. Definitions

Purchase

In this Act, unless the context indicates otherwise--

"claims officer"

means the person appointed by the Financial Services Board to be responsible for considering and determining claims in terms of section 6(6) and for the distributions referred to in sections 6(5) and 6(7);

"Directorate"

means the Insider Trading Directorate established by section 12;

"executive director"

means a person appointed as such in terms of section 12(12);

"financial instrument"

means a financial instrument as defined in section 1 of the Financial Markets Control Act, 1989 (Act No. 55 of 1989), and any instrument or right bearing substantially similar characteristics to any such financial instrument and which is dealt in on a regulated market;

"Financial Services Board"

means the board established by section 2 of the Financial Services Board Act;

"Financial Services Board Act"

means the Financial Services Board Act, 1990 (Act No. 97 of 1990);

"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 securities or financial instrument;

"insider"

means an individual who has inside information--

through--

i)	being a director, employee or shareholder of an issuer of securities or financial instruments to which the inside information relates; or

ii)	having access to such information by virtue of his or her employment, office or profession; or

b)	where such individual knows that the direct or indirect source of the information was a person contemplated in paragraph (a);

"Minister"

means the Minister of Finance;

"public sector body"

means--

a)	the government of the Republic or of any other country or territory,

b)	a regional or local government in the Republic or outside the Republic;

c)	the South African Reserve Rank. or

d)	the central bank of any country or territory outside the Republic, but excludes the Public investment Commissioners;

"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 relevant legislation of the country in which that market conducts business as a market for dealing in securities or financial instruments;

"rules"

means the rules made under section 11(2);

"securities"

means any securities including those defined as such in section 1 of the Stock Exchanges Control Act, 1985 (Act No. 1 of 1985), and any instruments or rights bearing substantially similar characteristics to such securities which are dealt in on a regulated market.